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Reliance shares fall to fresh 52-week low below ₹1,200
The stock declined more than 2% to ₹1,198 intraday, while the Sensex also slipped during the same session.
Reliance Industries shares fell to a fresh 52-week low below ₹1,200 in intraday trade on 28 September, dropping more than 2% to hit ₹1,198 on the BSE amid a broader selloff in the Indian stock market, according to LiveMint Markets.
The report said Reliance is down about 23% to 24% year-to-date, as the equity benchmark Sensex fell 1.6% to an intraday low of 72,716 during Monday’s session.
LiveMint Markets also highlighted that Reliance is reportedly planning to raise up to ₹10,000 crore through asset-backed securities, with Bloomberg citing people familiar with the matter saying the company aims to raise $1 billion.
The securities would be backed by rental receivables from group companies including Reliance Jio Infocomm, with notes due in five years and a coupon in the 8.35% to 8.40% range, the outlet added.
Latest closeSensex 72,638.70 ▼0.6%