Reliance Stocks Tumble Amid Profit Slump

Shares of Reliance Industries Ltd fell 2% after reporting a 5% profit decline in its July-September quarter, affected by weak oil refining and petrochemical business. The company's market valuation dropped by Rs 38,811.03 crore, impacting wider markets. Meanwhile, its retail and telecom sectors maintained stable performance.

Reliance Industries Ltd shares dropped by 2% on Tuesday following a 5% dip in net profit for the July-September quarter.

The stock closed at Rs 2,687.90 on BSE, after a significant decline that affected broader market indexes.

Retail and telecom divisions remained stable, unlike the struggling oil-to-chemical business.

(With inputs from agencies.)