Reliance net profit News

Shares of Reliance Communications on Wednesday tanked 9.5 percent after Moody's Investors Service downgraded the company's corporate family rating and senior secured bond rating on account of weak performance and "fragile" liquidity position.

Reliance Industries Friday posted 4.4 percent rise in first-quarter consolidated net profit to Rs 6,222 crore, while standalone profit grew 12 percent to highest level in over six years beating market estimates.

Reliance Industries, which reported its first decline in quarterly net profit in over two years, is likely to see upside when its USD 16 billion expansion projects are completed and telecom venture is rolled out, analysts said.