RIL shares up 2% despite dip in Q4 earnings

Apr 23, 2012 |

mumbai

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Shares of Reliance Industries rose by nearly two per cent in the morning trade on Monday despite the company's net profit slipping 21 per cent during the fourth quarter ended March 31, FY'12.

Shares of the energy major erased initial losses and gained 1.9 per cent to Rs 745.40 on the BSE.

At the NSE, the stock climbed 2 per cent to Rs 745.75. On the volume front, 3.67 lakh shares of the company changed hands on the BSE, while more than 20 lakh shares were traded on the NSE during morning trade.

RIL Q4 results were announced after the market hours on Friday. Analysts had said RIL earnings were in-line with street expectations and the stock would not be affected much in Monday's trade.

Helped by the spurt in the company's stock, heavyweight on the index, the BSE Sensex was trading with a gain of 32 points at 17,386.84 at 10.40 am.

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