Reliance Industries Falls Despite Meeting Estimates In Q2 – Shares of the Mukesh Ambani-led oil-to-telecom conglomerate fell as much as 7 percent, the most since Oct. 5, to Rs 1,070.25 despite meeting Bloomberg consensus estimates in July-September quarter.
Reliance Industries net profit rose 0.4 percent to Rs 8,859 crore in second quarter of current financial year compared with BloombergQuint’s estimate of Rs 8,853 crore.
Meanwhile, RIL announced buying controlling stakes in Den Networks and Hathway Cable & Datacom for more than Rs 5,200 crore as it prepares to disrupt broadband and direct-to-home TV services industry.
