Reliance Industries: Key financial ratios fall to three-decade low in FY21

On a consolidated basis, firm's RoCE declined to 7.8% in the fiscal

Reliance Industries, the country’s biggest company by market capitalisation, was the top loser among index stocks for the second consecutive day on Friday. The oil to telecom major’s share price was down 2.2 per cent on Friday against 0.42 per cent rise in NSE Nifty50 index.

RIL’s stock price declined despite a big expansion and diversification plan announced by the company’s Chairman Mukesh Ambani at its annual general meeting on Thursday. Ambani announced multi-billion-dollar investments in solar energy, a foray into 5G mobile technology, and plans to launch a new affordable 4G-enabled smartphone.

The Street has, however, been cool to the RIL