RIL records sharpest intra-day fall in 2018; falls 9% in three trading days

Shares of Reliance Industries (RIL) have dipped 5.4% to Rs 1,140 on the BSE in intra-day trade, recording their sharpest intra-day fall during calendar year 2018. Earlier, on December 18, 2017, RIL had recorded 6.3% decline in intra-day trade and finally settled flat at Rs 919 on the BSE. The stock is the top loser among the S&P BSE Sensex counter.

RIL was trading lower for the third straight day, down 9% thus far in the month of October. Investors have lost Rs 747 billion market wealth in the past three days. At 10:20 am; RIL's market capitalisation stood at Rs 7.228 trillion, as against Rs 7.975 trillion as on September 28, 2018, the BSE data show.

Meanwhile, with reference to media reports titled, "RIL in talks to buy Hathway, bring broadband home to you", the company clarified to bourses on Wednesday that it is unable to comment on media speculation and rumors and it would be inappropriate on its part to do so.

“With reference to your specific query whether the Company is aware of any information that has not been announced to the stock exchanges which could explain the movement in price on October 3, 2018, we would like to inform you that there is no information which has not been announced to the stock exchanges and which should have been announced by the Company,” RIL said in a regulatory filing.

The Company evaluates various opportunities on an ongoing basis, it added.

On the other hand, shares of Hathway Cable & Datacom were trading 4% higher at Rs 28.60, extending their past two days 17% surge on the BSE.

“The company generally evaluates from time to time various options to grow its business and strengthen its market position and explores discussions in this regard,” Hathway Cable said on clarification on news report.

Reliance Industries Limited (RIL)