On Thursday, shares of  Reliance Industries Ltd was trading at a two- month low, falling for the fourth session, which tracked a fall in the local equity markets.
Mukesh Ambani-led Reliance Industries Ltd. was trading at ?1,272.30 a share, down 2.09% from its previous close, while India’s benchmark Sensex Index fell 0.48% to 37,608.14 points. RIL has fallen nearly 10%, eroding over $10 billion in market valuation during this period. Local equity markets today fell for seventh session amid renewed trade war concerns.
RIL’s refining margin narrowed to a 17-quarter low at $8.2 a barrel in March quarter. Since launch of Jio, RIL’s debt has been increasing continuously due to higher capex.
Its debt outstanding as on 31 March rose to Rs 2.87 trillion, from Rs 2.18 trillion at the end of the previous year.
Read EquityPandit’s Technical Analysis of Indian Stock Market