Reliance Industries Falls After Amazon Tries To Block Future s Asset Sale Reliance Industries: As of 2:19 pm, Reliance Industries shares were trading 1.81 per cent lower at Rs 1,902 in-line with the Sensex which was down 2 per cent
Updated: January 27, 2021 2:30 pm IST
Reliance Industries was the top drag on the Sensex, it alone wiped out 100 points from the index.
Shares of Mukesh Ambani-led Reliance Industries fell as much as 2.43 per cent to hit an intraday low of Rs 1,892.55 on the BSE after Amazon.com on Monday requested a court to block partner Future Group s $3.4 billion deal to sell its retail assets to Reliance Industries, in its latest attempt to derail the deal, a court filing seen by Reuters showed. Amazon has asked the Delhi High Court to enforce the decision of a Singapore arbitrator, which both sides had agreed to use in case of disputes, the filing showed.
BENGALURU Indian shares edged up on Monday, as gains in banking stocks outweighed a slide in Reliance Industries, triggered by a sharp drop in third-quarter…
Sensex, Nifty Fluctuate As Rebound In Banks Offset Reliance Slide Bank stocks were among the top boosts on the index, with shares of HDFC Bank rising 2.2 per cent to become the biggest boost to Nifty.
Updated: January 25, 2021 1:34 pm IST
The domestic benchmarks swung between gains and losses as gains in banking stocks outweighed a slide in Reliance Industries, triggered by a sharp drop in third-quarter revenue at the conglomerate s oil-to-chemicals business.
The blue-chip NSE Nifty 50 index rose 0.17 per cent to 14,396, while the benchmark S&P BSE Sensex gained 0.12 per cent to 48,938 by 1:31 pm. Today is a day of volatility after the correction on Friday . It remains a buy on dip market, said Samrat Dasgupta, chief executive officer at Esquire Capital Investment Advisors in Mumbai.
By Reuters Staff
2 Min Read
A broker monitors share prices while trading at a brokerage firm in Mumbai May 13, 2014. REUTERS/Danish Siddiqui/Files
BENGALURU (Reuters) - Indian shares ended a volatile session lower on Monday, as investors booked profits ahead of a market holiday and shares of Reliance Industries weighed on the main indexes after the conglomerate reported a decline in quarterly revenue at its oil-to-chemicals division.
The blue-chip NSE Nifty 50 index fell 0.93% to 14,238.9 and the benchmark S&P BSE Sensex closed 1.09% weaker at 48,347.59.
“When you have such a bull market there are days when you see such profit booking. people want to lighten their position before tomorrow’s holiday and the budget,” said Saurabh Jain, assistant vice president of research at SMC Global Securities in New Delhi.
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) lacks granularity,” said Edelweiss analysts, led by Jal Irani, in a note.