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The stock market is not dependent on the rise and fall of shares of the country’s giant Reliance Industries Limited (RIL). The stock has given a 20% loss to investors from the top. Despite this, the Bombay Stock Exchange (BSE) Sensex has risen by 700 points in two days. Whereas Reliance shares have fallen drastically on both days.
According to exchange data, the stock opened up by Rs 10 to Rs 1,888 on Tuesday morning after breaking 8.62% on Monday. However, the stock reached Rs 1,843 in a few minutes. The market cap also fell during this period. However, the stock later declined to trade at Rs 1874.
The 52-week top has been Rs 2,368.
Reliance Industries’ share lost According to the data, the stock has a peak of Rs 2,368 for the last 52 weeks. From that level, the stock broke 20% on Monday. It fell further on Tuesday. However, there was some improvement after some news. Market analysts say that the stock may fall further from here.
42% decline expected
Macquarie has predicted a 42% drop in the stock. That is, it can go below 1200 rupees. Some analysts say that this stock will bounce back from here and will cross Rs 2,000. Although the reason for the sudden drop in the stock is not known, it is being said that there are problems in the deal with Future, with poor results and more reasons for this decline.
The financial result came on Saturday
However, the financial result of the company on Saturday is not too bad. There is definitely a decline in revenue and profit, but there has been an increase in digital revenue and profit of the company. Not only this, it was believed that through this share the market is up and down. But in the last two days, this perception has been proved wrong by the market. On Monday, the Sensex closed up 143 points, while on Tuesday it was trading up by over 500 points.
Retail is yet to be signed
Sources reveal that the steep fall in Reliance Industries shares on Monday has also put management in worry. Because it still has to deal with retail. At the same time, there is a positive environment globally on Jio and Retail. In such a situation, a sudden drop in shares can worsen this environment. Only after the Jio deal, Reliance’s stock rose to Rs 2,368 from 862 in the last 6 months.
Also read: 4 out of top 10 companies increase market cap by 1.15 lakh crores, RIL gains the biggest
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