Reliance Industries loses â¹48,000cr in value after Q2 results
Oil-to-telecom conglomerate Reliance Industries' shares tumbled as much as 6.6% on Friday, erasing â¹48,000 crore from the company's market value. This comes despite Reliance reporting a 17.3% rise in profit at â¹9,516 crore for the September quarter. However, its gross refining margin or profit earned on each barrel of crude processed, fell to a 3.5-year low of $9.50 per barrel.