RIL falls 2% on bourses; drags Sensex
Mumbai: Shares of Reliance Industries Wednesday fell by 2 percent following selling by investors in late hours of trade.
Shares of the energy major fell by 1.95 percent to settle at Rs 856.35 on the BSE. In intra-day trade, the scrip lost 3.88 percent to Rs 839.40.
Despite making a positive opening, shares of the company failed to sustain the gains due to selling pressure in the later half of the trade.
At the NSE, the stock was down 2.03 percent to Rs 857.
Fall in the stock was instrumental in pulling the Sensex down by 145.36 points to 19,294.12.
RIL has the second highest weight on the Sensex after ITC and a slide in the stock weighs on the benchmark index.
Meanwhile, after aggressively pushing for a hike in natural gas prices, the Finance Ministry has written to Oil Ministry seeking "appropriate action" on suggestions for putting a cap to which rates can be raised.
It flagged if a ceiling or limit to which gas prices can be hiked as per the CCEA approved formula of using imported LNG and international hub rates to price domestic gas, be imposed, an official in finance ministry said.