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Reliance Industries suffered its biggest hit last week when the combination of valuations of eight of the most valuable companies eroded Rs 1,603,44 crore.
Asia’s wealthiest Mukesh Ambani suffered a significant loss after his Reliance Industries stock fell -3.67% last week. The Ambani company lost its market value of Rs 59,799.34 crore last week from Monday to Friday. Currently, the company has a market capitalization of Rs 18644,3642 crore. The company’s share price closed at Rs 1379.50 on May 9. Last week, the BSE benchmark fell 1,047.52 points, or 1.30%. Reliance Industries took the biggest hit last week, with eight of the top ten most valuable companies eroding Rs 1,603,444.8 crore in total valuations, with Reliance Industries taking the worst hit, which is tied to the stock trend.
Meanwhile, Reliance Industries, HDFC Bank, TATA Consulting Services (TCS), Bharti Airtel, ICICI Bank, India Bank of India, Bajaj Finance and ITC are eroding due to their market valuations, Infosys and Infosys and Hindustan Unilever. Infosys increased by Rs 41.533 crore and its valuation reached Rs 626,083.70 crore. Of the top 10 orders, Reliance Industries remains the most worthwhile company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, National Bank of India, Infosys, Infosys, Hindustan Unilever, Bajaj Finance and ITC.
Mukesh Ambani’s net worth
According to Forbes, the Indian billionaire has a market value of US$1003.6 billion, ranking him 16th among the world’s billionaires. His dependence exists in many fields including FMCG, Telcom, etc. He runs Reliance Jio, the largest telecom company in India. In July 2023, Reliance listed its financial department, Jio Financial Services. Ambani has expanded its dependence on green energy.
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