Reliance Industries (RIL) Shares Fall Over 2.5% on Block Deal News

Reliance Industries (RIL) Shares Fall Over 2.5% on Block Deal News

VoM News Desk | September 20, 2023 | 06:55 AM IST | Breaking News | Follow on Google News

Reliance Industries (RIL) Shares Fall Over 2.5% on Block Deal News

Reliance Industries (RIL) saw a significant drop in its share price, falling over 2.5% during Wednesday’s trading session. This drop followed news of a substantial block deal that took place after the market opened. Approximately 2 crore shares, equivalent to 0.3% of the company’s total shares, were traded in the block deal, resulting in a value of ₹4,512 crore.

RIL’s share price opened at ₹2,422.95 on the BSE and reached an intraday low of ₹2,361.60, with a high of ₹2,426.40. This marks the fourth consecutive session of losses for RIL’s shares, with the stock having lost over 2% in the last four sessions.

The buyers and sellers involved in the block deal have not been disclosed at this time.

Analysts provided varying perspectives on the situation. Some suggest that the stock may have experienced an extreme panic low, potentially leading to an upward trend if it closes within a certain range. Others recommend a “buy on dip” strategy and see the downside as limited.

Investors and traders should closely monitor the closing price and market developments to make informed decisions regarding RIL’s stock.

Please note that the stock market is subject to fluctuations, and trading decisions should be made carefully based on one’s financial goals and risk tolerance.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.