Shares of Reliance Industries rose nearly two per cent in the morning trade today despite a 21 per cent dip in net profit during the fourth quarter ended March 31, 2012.
The scrip erased initial losses and gained 1.9 per cent to Rs 745.40 on the BSE. On the NSE, the stock climbed 2 per cent to Rs 745.75.
On the volume front, 3.67 lakh shares changed hands on the BSE, while more than 20 lakh shares were traded on the NSE.
The company announced its Q4 results after the market hours on Friday. Analysts had said RIL earnings were in line with street expectations and the stock would not be affected much in today’s trade.