Shares of Reliance Industries (RIL) on Monday fell by as much as 3 per cent in morning trade, even as the energy major posted a 19 per cent jump in first quarter net profit mostly on the back of higher other income.
The bellwether scrip made a weak opening at the BSE and as the trade progressed it further lost 2.62 per cent to Rs. 898.90.
At the NSE, the stock was down 2.67 per cent to Rs. 898.95.
“Profit-booking after the results has pulled down the stock,” said Paras Bothra, Research Head, Ashika Stock Brokers.
Reliance Industries had on Friday posted a 19 per cent jump in its first quarter net profit at Rs. 5,352 crore on back of stronger margins in its core oil refining and petrochem businesses.