Reliance Industries falls by 2.5% in weak mkt

In comparison,the Sensex fell by 0.4 per cent to close at 18,744.56 points. As per BSE,RIL contributed about 50 points of fall in the Sensex,being the top-heavyweight stock among the 30 Sensex constituents.

Market analysts said that RIL has been under pressure in the recent times due to various news such as CAG’s report.

Similar movement was being witnessed on the National Stock Exchange,where the counter finished the trade at Rs 845.40 down 2.65 per cent from the previous close.

In terms of volume,about 85.65 lakh shares got traded on both the bourses.

In recent times,RIL stock has got a beating after the CBI filed an FIR against former Director General of Hydrocarbons V K Sibal for allegedly favoring a private firm to carry out speculative seismic exploration.

However,the FIR did not mention the name of RIL.

According to Comptroller and Auditor General report,Sibal showed undue favours to RIL and permitted the company to inflate its ‘development costs’.

Sibal has been accused of approving a four-fold increase – from USD 2.47 billion to USD 8.84 billion – in the capital expenditure of RIL’s exploration project in the Krishna Godavari Basin.