Day's after it came out with better-than-expected fourth quarter results, the scrip of the $66-billion oil-refining-to-retail-trade giant Reliance Industries fell by 4.46 percent in Monday's trade.
The blue chip company's scrip fell by 41.30 points or 4.46 percent at Rs.885.55 from Friday's close of Rs.926.85 per equity share.
The scrip fell to the day's low by 5.18 percent at Rs.878.75 per equity share. During the day it touched a high of Rs.937.95 per equity share.
On Friday, Reliance Industries had reported an 8.5 percent jump in its net profit for the fourth quarter of the 2014-15 fiscal at Rs.6,381 (over $1 billion), thanks to a jump in refining margins to $10.1 per barrel, which beat market expectations.
The company's stock had closed on Friday at Rs.926.85 a share, down 0.06 percent.
The company had said that its consolidated net profit for the full financial year was up 4.8 percent at Rs.23,566 crore, against Rs.22,493 crore in the previous financial year.
The gross refining margin, which defines the earnings from converting crude oil into fuel, was at $10.1 per barrel for the quarter in question, compared to $9.3 per barrel for the like quarter of last year.
On an annual basis, the margin stood at $8.6 per barrel against $8.1 per barrel last year.
The company, however, reported a drop in turnover both for the fourth quarter and for the year as a whole -- down 33.3 percent at Rs.70,863 crore, and down 13 percent at Rs.388,494 crore, respectively.
The Monday's stock fall comes on the back of the benchmark index, the 30-scrip BSE Sensitive Index (Sensex) plunging nearly 2 percent in the day's trade.
