Explained: Why Reliance Industries shares slipped on stock market today

Reliance Industries Limited shares declined over two per cent on the stock market on Monday. The decline comes after the company announced its Q4FY21 results on Friday. Here is all you need to know.

Shares of India’s most valuable company Reliance Industries Limited (RIL) fell over 2 per cent on the stock market on Monday. At 1:00 pm, shares of RIL were trading lower by 2.10 per cent after falling over 2.5 per cent in early trade. The 2 per cent dip in RIL shares came after the company reported its March quarter results. Though the Mukesh Ambani-led company doubled its quarterly profit on a year-on-year basis, it failed to meet the expectations of analysts. This is likely to be one reason behind today’s fall. While RIL shares continue to trade higher than the 20-day moving average, it is lower than the 5-day, 50-day, 100-day and 200-day moving averages, reported Business Today. According to the report, RIL’s shares have declined 1.48 per cent since the beginning of this year.