Though the Mukesh Ambani-led company doubled its quarterly profit on a year-on-year basis, it failed to meet the expectations of analysts.
While RIL shares continue to trade higher than the 20-day moving average, it is lower than the 5-day, 50-day, 100-day and 200-day moving averages, reported Business Today.
Many experts explained that RIL’s Q4FY21 results were good on an on-year basis, it failed to meet the expectations of analysts.