Reliance Infrastructure Plunges 5% Amidst Huge Block Deal; Profit Drops Sharply – What's Next for Investors?

Overview

Reliance Infrastructure shares hit a 5 per cent lower circuit on BSE, trading at ₹149.85, following a massive block deal involving 5.17 million shares on the NSE. The company also reported a sharp 50 per cent year-on-year decline in consolidated net profit for the September quarter, falling to ₹1,911.19 crore from ₹4,082.53 crore, with total income also decreasing. Market capitalisation stands at ₹6,252.06 crore.