Rs 21,000 crore: Mukesh Ambani’s RIL 1-day m-cap loss in stock market

By: | Updated: August 31, 2018 5:12 PM

Shares of Mukesh Ambani-led RIL (Reliance Industries Ltd) registered the second-biggest drop among all the constituents of benchmark Sensex index on Friday leading to a single day m-cap loss of Rs 21,000 crore.

Mukesh Dhirubhai Ambani, Chairman, Reliance Industries Ltd. (Image: Reuters)

Shares of Mukesh Ambani-led RIL (Reliance Industries Ltd) registered the second-biggest drop among all the constituents of benchmark Sensex index on Friday leading to a single day m-cap loss of Rs 21,000 crore. RIL shares were also the biggest negative point contributors to the headline indices Sensex and Nifty. The stock of Reliance Industries Ltd tumbled nearly 3% intraday before recovering marginally in the closing session.

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Shares of RIL finally closed down at Rs 1,240.95, down 2.6%. Following the steep plunge in RIL share price, the Mukesh Ambani-controlled oil-to-telecom conglomerate Reliance Industries lost a whopping Rs 21,009 crore in the market capitalisation or stock markets value. At the closing on Friday, Reliance Industries market capitalisation stood at Rs 7.86 lakh crore as against a market capitalisation of Rs 8.07 lakh crore as on Thursday. Earlier yesterday, Reliance Industries shares closed at Rs 1,274.10 on BSE.

A volatile stock market trading activity was seen in Indian equities ahead of first-quarter GDP data growth release and battered sentiments on Indian rupee climbing to a fresh record low against US dollar in the early session and negative global cues on renewed trade war fear between US and China. BSE Sensex closed down 45.03 points or 0.12% at 38,645.07 while NSE Nifty settled largely unchanged at 11,680.50, up 3.70 points or 0.03%. Other than Reliance Industries, shares of Yes Bank (down 5.11%), M&M (down 1.75%), Maruti Suzuki (down 1.25%), Vedanta (down 1.13%) and Tata Steel (down 1.09%) were the major losers among the components of BSE Sensex.

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