Reliance Industries Stock Plummets: Shares Dive Over 4% in Mid-Day Trading
New Delhi: Shares of Reliance Industries Ltd (NSE: RELIANCE), one of India’s largest conglomerates, faced significant selling pressure during Tuesday’s trading session. The energy-to-telecom giant saw its stock price decline sharply on the National Stock Exchange (NSE).
As of 12:09 PM IST on April 4th, Reliance Industries was trading at 1,193.60 INR. This marked a substantial intraday drop of 55.10 INR, translating to a 4.41% decrease from its previous close.
The intraday chart clearly illustrates a downward trend for the heavyweight stock. After opening the session at 1,241.10 INR, the share price briefly reached a high of 1,245.45 INR early on. However, it subsequently trended lower throughout the morning, breaking below the 1,200 INR mark. The day’s low, recorded near the reporting time, was 1,193.15 INR, indicating the stock was trading near its lowest point for the session. The previous day’s closing price was 1,248.70 INR.
Market data accompanying the price action reveals Reliance Industries’ massive market capitalization stands at 16.16 Lakh Crore INR. The stock’s price-to-earnings (P/E) ratio is currently 23.36, with a dividend yield of 0.42%.
The current trading level places the stock significantly off its 52-week high of 1,608.80 INR and moves it closer towards its 52-week low of 1,156.00 INR. Investors are closely monitoring the stock’s performance amid the broader market movements.
