Sebi has been investigating RIL for profiting from insider information on Reliance Petroleum, a subsidiary company that later merged with RIL
Though the company's outlook remains strong, concern on steel prices and demand adds to near-term challenges
The markets have cracked further in noon trades due to broad-based selling pressure.
The stock has rallied nearly 30% in past two trading sessions on back of heavy volumes.
Infosys and BHEL are down 2.3%, TCS, HDFC, Larsen & Toubro and Wipro are down 1.4-1.6%