Reliance Inds falls on Morgan Stanley`s rating downgrade
08th October 2012 10:18 AM
Reliance Industries fell on Monday after global firm Morgan Stanley downgraded the company to underweight from equal weight. And also Morgan Stanley cut the target price on the company to Rs 743, which implies a 13% downside.Shares ofthe companyare trading at Rs 848.35, down Rs 9.05, or 1.06% at the Bombay Stock Exchange (BSE) on Monday at 9:38 a.m.The scrip has touched an intra-day high of Rs 856 and low of Rs 844.25. The total volume of shares traded at the BSE is 37,740.In the earlier session, the shares rose 0.55%, or Rs 4.65, at Rs 857.40. Currently, the stock is trading down 5.95% from its 52-week high of Rs 902 and above 26.43% over the 52-week low of Rs 671.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 836.70 20.70 2.47 1 Month 767.35 90.05 11.74 3 Months 734.30 123.10 16.76 6 Months 742.60 114.80 15.46 1 Year 801.45 55.95 6.98 Note: Based on previous day closing price.
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