RIL Stocks Plunges Ahead Of Q1. What’s D-Street Outlook?

Ahead of its June quarter results, Reliance Industries Ltd (RIL) witnessed a 3% decline in its shares, contributing to a significant drop of 810 points on the Sensex, with nearly a third of that fall attributed to RIL. The market expects a double-digit profit decline on single-digit sales drop due to weaknesses in the oil-to-chemicals O2C segment. Following the demerger of Reliance's financial services business, the stock now accounts for about 11.70% of Sensex weightage, down from 12.77%, while on Nifty, its weightage has decreased from 10.92% to 10.03%. Watch this excerpt from our daily Market show.