Shares of Reliance Industries fell by nearly 3 per cent on a day when Mukesh Ambani announced new offerings at the company's annual general meeting.
The stock gave up early gains and ended 2.53 per cent lower at Rs 965 on BSE. During the day, it fell by 3 per cent to Rs 960.10.
On NSE, shares of the company dropped 2.57 per cent to close at Rs 964.65.
The company's market valuation also slumped by Rs 15,699.5 crore to Rs 6,11,462.50 crore.
In terms of equity volume, 12.90 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.
Ambani today unveiled an ultra high-speed fixed line fibre broadband for homes and enterprises across 1,100 cities and announced plans for an e-commerce platform that may rival the likes of Amazon.
The new offerings alongside the strengthening of the mainstay energy and petrochemicals business will help double size of oil-to-telecom conglomerate Reliance Industries to USD 125 billion by 2025, he told the company's shareholders.
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