Mukesh Ambani loses Rs 80000 crore in just 2 days due to…
Mukesh Ambani’s Reliance Industries has recently faced a significant decline in its stock value, resulting in a staggering loss of Rs 80,000 crore in just two days. This sharp drop was largely influenced by a broader market downturn, with the Sensex falling over 1,100 points on September 30, 2024, which adversely affected major companies, including Reliance.
Details of the Stock Decline
On September 30, Reliance Industries’ shares fell by 3%, and the decline continued into the following day, with an additional drop of 0.89%, bringing the share price down to Rs 2,927. The company’s market capitalization plummeted to Rs 67,000 crore on Monday, with a further loss of Rs 12,000 crore recorded on Tuesday.
Market Context
The Indian stock market has been under pressure, with significant losses across various sectors. The Nifty index also experienced a decline of about 300 points, contributing to the overall negative sentiment in the market. This volatility has led to losses for many investors, particularly those holding shares in Reliance Industries, which has seen fluctuating stock prices in recent days.
In summary, the combination of a sharp market downturn and specific declines in Reliance’s stock has resulted in substantial financial losses for the company and its investors.