RIL earnings take shine off buyback offer

Reliance Industries (RIL) fell 2.8% to Rs 771 on Monday as disappointing Q3 earnings trumped the optimism surrounding the share buyback.

Analysts said RIL faces the same dilemma as many other global oil & petrochem cos are facing where the main business is pumping cash, but few are able to utilise the money to invest in businesses that can drive profits later.