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RIL extends slide in broader selloff

Capital Market 

Shares of Reliance Industries (RIL) slumped 13.37% to Rs 883.85, resuming recent slide after spurting in the previous session.

The RIL stock surged 11.24% to Rs 1,020.20 on Friday, 20 March 2020. So far the stock has fallen 33.48% in March from its close of Rs 1,328.65 on 28 February 2020.

Meanwhile, RIL informed that it is enhancing its production capacities to produce 100,000 face-masks per day and a large number of personal protective equipments (PPEs), such as suits and garments, for the nation's healthworkers. The move is a part of steps taken by RIL to help India fight against coronavirus.

RIL also announced an initial support of Rs 5 crore to Maharashtra Chief Minister's Relief Fund.

All 736 grocery stores of Reliance Retail across the country will ensure sufficient supply of essentials, including staples, fruits and vegetables, bread, breakfast cereals and other items of daily use.

RIL is India's largest private sector company. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

On a consolidated basis, Reliance Industries (RIL) reported 13.55% increase in net profit to Rs 11,640 crore on 2.52% decrease in net sales to Rs 152,939 crore in Q3 December 2019 over Q3 December 2018.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 23 2020. 16:44 IST