Shares of Reliance Industries plunge 6% on disclosure concerns

The country's most-valuable firm reported record quarterly profit for the quarter ended Dec 31, but didn't disclose gross refining margins, a key metric to analyse its oil and petrochemicals vertical

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Shares of RIL fell Rs 114.5, or 5.6 per cent, to end at Rs 1,935

Samie Modak Mumbai
Shares of Mukesh Ambani-led Reliance Industries (RIL) plunged nearly six per cent — the most since November 2 — after analysts raised concerns over disclosure standards. The country’s most-valuable firm on Friday reported record quarterly profit for the quarter ended December 31, but didn’t disclose gross refining margins (GRM), a key metric to analyse its oil and petrochemicals vertical, which accounts for about 70 per cent of revenue.

“Transparency levels are falling across businesses. RIL has stopped reporting a key matrix — GRM — altogether. Similarly, it has ceased providing division-wise turnover breakdown for retail and Jio’s key driver FTTH (fiber-to-the-home)

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First Published: Jan 26 2021 | 12:49 AM IST

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