RIL declines 6% on profit booking; stock to turn ex-rights on Wednesday

In the past 31 trading days, the stock of RIL has outperformed the market by surging 78 per cent, as compared to a 21.5 per cent rise in the S&P BSE Sensex till Monday

Shares of Reliance Industries (RIL) were down 6 per cent to Rs 1,483 on the BSE on Tuesday on back of heavy volumes on profit booking. The stock will turn ex-rights on Wednesday, May 13.

Since March 23, the stock of the oil-to-telecom conglomerate has outperformed the market by surging 78 per cent, as compared to a 21.5 per cent rise in the S&P BSE Sensex till Monday.

Mukesh Ambani-controlled RIL has fixed May 14 as the record date for the Rs 53,100 crore 1:15 rights issue, which is priced at Rs 1,257 per share. Simply put if you own