Reliance Industries shares continue to tank; plunge 7%

Shares of Reliance Industries Ltd continued to fall for the third straight session Thursday, plunging 7 per cent and dragging the BSE benchmark index lower. The stock dived 7.03 per cent to end at Rs 1,120.55 on BSE. During the day, it skidded 8.31 per cent to Rs 1,105.05.

The scrip was the biggest drag among the 30-Sensex blue chips. At NSE, shares of the company tumbled 6.87 per cent to close at Rs 1,122.25. In terms of equity volume, 14.82 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.

In three days, the stock has fallen nearly 11 per cent, wiping out Rs 86,991.07 crore from its market valuation to Rs 7,10,253.93 crore during this time. 

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Selling in the blue chip stock was instrumental in sending the BSE benchmark index lower by 806.47 points or 2.24 per cent to end at 35,169.16.