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Reliance stock falls 10% in 3 days; is it good time to buy?

Reliance stock falls 10% in 3 days; is it good time to buy?
Mukesh Ambani's Reliance Industries share price has fallen as much as 9.65 per cent in last three sessions amid profit booking and concerns over the Future Group deal
Chitranjan Kumar | January 27, 2021 | Updated 20:17 IST
Reliance stock falls for third straight session on Wednesday
Shares of Reliance Industries Ltd (RIL) extended their fall on Wednesday as investors resorted to profit booking after December quarter results, while concerns over its bid to acquire Future Group businesses also spooked sentiment. The Reliance stock has declined as much as 9.65 per cent in the last three sessions. This was the second straight session when Mukesh Ambani-led oil-to-telecom conglomerate was among the top laggards on the BSE SENSEX and Nifty.

Delhi , India , Singapore , Kishore-biyani , Reliance-industries-ltd , Group-rs , Delhi-high-court , Reliance-industries , Future-group , Mukesh-ambani-led , Reliance-stock , Future-retail

mukesh ambani net worth: RIL's weak Q3 earnings make Mukesh Ambani lose $5.2 billion in one day

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MUMBAI: It was not a good Monday for Mukesh Ambani, the owner of India’s largest listed company
Reliance Industries, as RIL stock tanked over 5 per cent leading to a notional loss of wealth worth close to $5.2 billion for the family.
The notional wealth lost by the Ambani family today was greater than the market capitalisation of several Nifty50 companies and was equivalent to losing $13 million per minute of today’s trade.
Today’s loss will likely push Ambani to the 12th place in the Bloomberg Billionaires’ Index, where his position was at No. 11 at the time of publishing. According to the index, Ambani’s wealth was at $79.2 billion prior to today’s stock price crash.

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Mukesh Ambani | Reliance: As Mukesh Ambani drops in billionaires' ranking, will RIL lose sheen too?

Synopsis
The RIL stock has fallen 15 per cent in the last three months, compared with a 21 per cent rise in Nifty50.
Reliance Industries chairman Mukesh Ambani
NEW DELHI: At some point last year, Reliance Industries (RIL) played a major role in the rebound that the benchmark equity indices stages from their March lows.
The rally in RIL shares was such that it helped Mukesh Ambani climb up the billionaires’ ranks to become the world’s fourth richest with a fortune of nearly $90 billion.
This was when the stock hit a record high of Rs 2,368.80 in September 2020. Since then, the stock has come off 19 per cent, and Ambani's fortunes have dropped to $73.9 billion. He is no more in the top 10 billionaires list. The dominance of RIL shares in the market benchmarks has also reduced significantly, though most brokerages still remain bullish on the stock.

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