The fall in Reliance's shares, their steepest in two weeks, lead losses on the benchmark Nifty 50 index. The Mukesh Ambani-led company is the heaviest stock in the index with a 10.21% weightage.
Reliance Q1 Results: Reliance Industries reported a fall in consolidated revenue and profit in Q1FY24 due to weak performance in the oil to chemicals business, but its telecom and retail businesses continued to grow.
"The sustained growth across consumption baskets has further consolidated our position as a market leader. We continue to innovate and invest in our stores and digital platforms to make shopping more engaging for our customers," said Isha Ambani, executive director, Reliance Retail Ventures.