Reliance shares dip 2% on Jio’s profitability concerns
Reliance Industries' shares on Friday fell up to 2% amid concerns about returns from its telecom operator Jio's operations and delay in its core projects by six months. "The record subscriber additions of 16 million in first month do not excite us...as they may lack persistency," HDFC Securities stated. Earlier, Reliance reported a 22.89% decline in its consolidated net profit.