There is a big drop in the shares of Mukesh Ambani’s Reliance Industries.
The budget has not been announced and the stock market and shares of the country’s largest companies have started falling. Yes, Mukesh Ambani’s Reliance Industries suffered a loss of over Rs 19,000 crore ahead of the budget announcement. Sensex is down for the second consecutive day. The company’s shares are trading below the Rs 3,000 mark. If experts are to be believed, Reliance Industries’ shares could see a huge fall like the one on Monday. A day ago, Reliance shares closed with a three and a half per cent drop and a drop of over Rs 73 billion was seen in the company’s valuation.
Reliance Industries shares fall
A few minutes before the budget, the shares of the country’s largest company fell on the stock market. The company’s shares are trading at Rs 2,975.20 with a drop of 0.90 percent i.e. Rs 26.85. While during the trading session the company’s shares also hit the lowest level of the day of Rs 2,973. However, the company’s shares opened in the morning on a positive flat note at Rs 3,004.95. A day ago the shares of Reliance Industries fell by 3.50 percent. After which the company’s shares closed at Rs 3,001.10.
Big drop in valuation
If we talk about the valuation of the company, 35 minutes before the start of the budget, Reliance Industries suffered a loss of over Rs 19 billion. When the stock market closed a day ago, the valuation of the company stood at Rs 20,30,488.32 crore. While on July 23, the shares of the company touched the day’s low of Rs 2,973, the market capitalization of the company reached Rs 20,11,476.38 crore. This means that the valuation of the company has suffered a loss of Rs 19,011.94 crore 35 minutes before the budget.
Investors also suffer huge losses
On the other hand, thousands of Reliance Industries investors have also suffered huge losses for the second consecutive day. Let us try to understand this with an example. If an investor holds 10 thousand shares of Reliance Industries, then there is a loss of Rs 2.81 lakh with a fall of Rs 28.1 per share. Which cannot be considered a small loss under any circumstances. According to experts, a bigger fall in Reliance Industries shares is possible.
