Reliance Industries witnessed a sharp decline in its stock price, hitting a fresh 52-week low during intra-day trading on February 12. The stock fell as much as 3.31% to Rs 1,193.65 per share, extending its losing streak for the fourth consecutive session.
Heavy selling weighs on RIL stock
The decline in Reliance share price comes amid high trading volumes, indicating strong selling pressure. Over the past five days, the share price of Reliance Industries has lost more than 5%, while in the last month, it has dipped by 2%. Looking at a broader timeframe, RIL’s share price has fallen 16% over the past six months and on a yearly basis.
The slump in Reliance Industries’ share price comes amid broader market volatility, driven by global uncertainties like rising interest rates and shifting trade policies.
In addition to this, speculation around the much anticipated Reliance Jio IPO has kept investors on edge, though no official announcement has been made yet.
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Furthermore, this is the first time in ten years that Reliance has marked a calendar year with negative returns for its shareholders.
Reliance’s investment in The Hundred’s Oval Invincibles
Despite the ongoing weakness in its stock price, Reliance Industries made headlines this week with its latest sports investment. Through its subsidiary RISE Worldwide, RIL acquired a 49% stake in the Oval Invincibles team in England and Wales Cricket Board’s (ECB) ‘The Hundred’ tournament. The deal, valued at £60 million, adding to its ownership of Mumbai Indians (MI) in the IPL and SA20 league.
Through an exchange filing on February 10, the company said, “Fresh off lifting yet another league title in South Africa over the weekend, MI are proud to welcome the men’s team — reigning champions of The Hundred in 2023 and 2024 — and the formidable women’s squad, winners of the inaugural 100-ball league in 2021 and champions again in 2022, to the #OneFamily.”
Reliance Q3FY25
Reliance Industries announced its Q3FY25 results on January 17 and reported a 7.3% YoY rise in net profit, reaching Rs 18,540 crore for the December quarter of FY25, compared to Rs 17,265 crore in the same period last year.
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