Mukesh Ambani has bad news as Reliance loses Rs 675,000,000,000 in only a single day.The richest guy in India now has a net worth of Rs.

In just five trading days last week, Reliance Industries Ltd. (RIL), under the leadership of Mukesh Ambani,

Saw a significant decline in market value of Rs 67,526.54 crore. RIL’s market capitalization dropped to Rs 16,46,822.12 crore

On Friday as its stock price closed at Rs 1,214.75. According to Forbes, Mukesh Ambani still has a net worth of $90.3 billion, making him the richest man in Asia despite this loss.

The most valuable firm in India, Reliance Industries, encountered a significant obstacle last week as a result of market vulnerabilities.

In terms of market value, Reliance is still higher than TCS, HDFC Bank, and ICICI Bank despite the drop.

Why Was Reliance Industries Share Price Falling

Media reports stated that the following factors were the primary causes of the decline in Reliance’s share price.

Weak Market mood: As a result of poor investor mood, the Indian stock indices, the Sensex and Nifty, have experienced eight straight sessions of losses.

Global Economic Pressures: Blue-chip equities, like Reliance, are being significantly impacted by worries about foreign fund outflows and policy decisions made by the US Federal Reserve.

Sectoral Challenges: Investor confidence has been lowered by changes in the oil and gas business as well as their effects on the telecom sector.

Reliance Tops Market Losses Among Indian Firms

Among India’s leading corporations, Reliance suffered the most losses during the market decline last week. The market capitalization of eight of the 10 most valuable companies fell by a total of Rs 2,03,952.65 crore, with Reliance bearing the brunt of this decline.

TCS was another major loser, and SBI, HDFC Bank, and Infosys also saw sharp drops. But in contrast to the general market trend, Bharti Airtel and ICICI Bank turned out to be winners.

Despite ongoing short-term market turbulence, analysts are nonetheless upbeat about Reliance’s prospects. Significant revenue is anticipated as a result of Jio’s recent expansion and digital offerings. Additionally, Reliance’s emphasis on retail expansion and green energy could propel the business forward.