Shares of Mukesh Ambani-led conglomerate Reliance Industries Ltd (RIL) are trading over 17 per cent lower from their all-time high amid volatile market. RIL stock, which hit an all-time high of Rs 2,855 on April 29, 2022 was trading at Rs 2,360 on BSE today, down by Rs 495 or 17.33 per cent during the period. Shares of RIL have been losing in the last two sessions.
Dancing to global tune, the BSE Sensex rallied nearly 1,100 points to comfortably trade above the 58,000 mark. NSE's barometer Nifty50 zipped past 17,300 level.
Reliance Retail has submitted a bid of Rs 5,600 crore to acquire German retailer Metro AG's India subsidiary, Metro Cash & Carry, which is looking to exit the Indian market. Competing with Reliance is Thailand-based Charoen Pokphand Group, which has placed a bid of Rs 8,000 cr, The Economic Times reported.