Explained: Why Reliance Industries shares fell 3% after reporting highest-ever profit
Shares of billionaire Mukesh Ambani-led conglomerate Reliance Industries (RIL) fell 2.7% to Rs 1,436.85 on BSE in Monday’s trade despite reporting its highest-ever profit and EBITDA in Q1 results announced on Friday. The Rs 30,783 crore profit was significantly boosted by the sale of Asian Paints stake, worth Rs 8,924 crore, and lower-than-expected interest expenses … Read more