Shares of Reliance Industries fell 0.69% on Monday.

What Happened: Reliance Industries is entering into a fresh week after witnessing its worst ever week performance since early 2021. The stock had declined 9.15% in the last week, which is the worst since the 10.13% weekly decline in January 2021. 

The stock had fallen 3.25% on Monday and 3.95% on Thursday. The fall on Monday wiped out ₹63,000 crore in investor wealth and the Thursday took away ₹78,000 crore.

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Reliance shares have gained over 20% in the last year and the recent fall could be attributed to a correction in the scrip. 

The company announced a 1:1 bonus issue in September. However, the company has not declared the record date for the bonus issue but intends to wrap up the process by November 1. 

In August, the Competition Commission of India approved the ₹70,352 crore ($8.5 billion) merger between Reliance's Viacom 18 and Star India. 

Price Action: Shares of Reliance Industries fell 0.69% to ₹2,754.05  on Monday. 

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