Reliance stocks plunge; RIL, RCOM top losers
Shares of various companies from the two Ambani groups on Thursday fell sharply on the bourses in a weak market, and stocks like Reliance Industries and RCOM recorded losses higher than the market benchmark.
Amid heavy sell-off by investors across the market, the BSE's benchmark index Sensex Thursday dropped 388.82 points or 2.3 percent to close at 16,488.24 points.
Reliance Industries Ltd (RIL), the flagship company of Mukesh Ambani-led group, dropped by 3.71 percent to close at Rs 779.20 and was the biggest contributor to Thursday's fall in the Sensex, as per the BSE data. Earlier in the day, the stock had fallen to as low as Rs 773, its lowest level in a week, at the BSE.
Another Mukesh Ambani group firm, Reliance Industrial Infrastructure Ltd (RIIL), fell 3.81 percent to close at Rs 350.90, after hitting a one-week low of Rs 349.25 during the intra-day trade.
Among the Anil Ambani-led Reliance Group stocks, RCOM dropped 5.79 percent to close at Rs 75.60, while Reliance Infrastructure plunged 4.90 percent to settle for the day at Rs 397.65 on the BSE.
Reliance Capital tanked 5.71 percent, Reliance Power went down by 3.57 percent, Reliance MediaWorks fell by 3.22 percent and Reliance Broadcast Network Ltd lost 2.83 percent.