Mukesh Ambani’s Reliance Industries has suffered huge losses.
The shares of the country’s largest company, Reliance Industries, have seen a fall of 3.50 percent. Due to which thousands of investors have suffered huge losses. The valuation of the company itself suddenly fell by more than Rs 73,000 crore. Experts believe that due to the fact that the quarterly results were not as expected, the shares of the country’s largest company experienced such a huge fall, even a day before the budget. Let’s try to understand, from the stock market data, at what level are the shares of Mukesh Ambani’s company visible?
Reliance shares fall
There was a major fall in the shares of Reliance Industries on the first trading day of the week i.e. Monday. According to BSE data, the shares of the company closed at Rs 3,001.10 with a drop of 3.49 per cent i.e. Rs 108.40 per share. During the trading session, the shares of the company even came under Rs 3,000 i.e. Rs 2,998.80. However, the shares of the company opened with a slight decline at Rs 3,070.15. While on Friday the shares of the company were trading at Rs 3,109.50.
35 percent increase in 9 months.
Although the company’s stock fell by around 3.5 percent on Monday, the company’s stock has risen by over 35 percent from its low of around 9 months i.e. 52 weeks. As per the data, on October 26, 2023, the company’s stock had hit a 52-week low of Rs 2,221.05. Since then, the company’s stock has seen a rise of Rs 780.05 per share.
Lost money from investors
If we talk about Monday, investors have suffered huge losses. Thousands of people in the country have invested in Reliance Industries shares. Let us try to understand this with an example. If an investor holds 10,000 shares of Reliance Industries. On Friday, there was a loss of Rs 108.40 lakh on the company’s shares. In such a situation, such an investor would have suffered a loss of Rs 10.84 lakh for 10 thousand shares. Which is not a small loss by any means.
How many Reliance Industries have gone under?
If we talk about the valuation of Reliance Industries, it has suffered huge losses during the trading session. Reliance Industries has suffered a loss of over Rs 73,000 crore in a single day. As per the data, the valuation of the company on last Friday was Rs 21,03,829.74 crore. Which was reduced to Rs 20,30,488.32 crore on Monday. This means that the country’s largest company had suffered a loss of Rs 73,341.42 crore by the end of the trading session.
Why did the decline occur?
The main reason for the fall in Reliance Industries shares is that the quarterly results did not meet expectations. In fact, there has been a decline of around 20 per cent in the profits of Reliance Industries on a quarterly basis. The company made a record profit of Rs 18,951 crore in the January-March quarter. While in the first quarter of the current financial year, the company’s profit declined to Rs 15,138 crore. While in the same quarter of the last financial year, the company’s profit stood at Rs 16,011 crore. This means that on a yearly basis the company’s profits have declined by 5.45 per cent.
