Mukesh Ambani, chairman of Reliance Industries
Investors had high expectations from his company’s AGM from Asia’s richest businessman Mukesh Ambani. It was estimated that he would announce the IPO of his telecom company Reliance Jio. Also, they will make any such announcement, which gives great benefit to their investors. The IPO of the telecom company was announced, but it will come after the mid -2026 mid. There was also no inner date for the arrival of the IPO. Nor was any big announcement made. Due to which there was a big decline in the shares of Reliance Industries.
The special thing is that the company’s shares which crossed the level of Rs 1,400 after the IPO announcement came to the level of Rs 1,350 after 25 minutes. This means that the company’s stock declined by more than 3.75 percent during this period. Due to which the market cap of Reliance Industries lost more than 71 thousand crore rupees. Let us also tell you that after all the figures of Reliance Industries shares were seen in the stock market.
Reliance shares decline a big decline
The AGM of Mukesh Ambani’s company Reliance Industries started at 2 pm. Shortly thereafter, Mukesh Ambani announced the IPO of Telecom Arm Reliance Jio. Due to which the company’s shares rose by about 1 percent and the company’s stock reached the day high with Rs 1,403. After that there was no major announcement from the company and there was a lot of disappointment among the investors of the company. Due to which profit booking started in the shares of Reliance Industries. Within about 25 minutes, the company’s shares fell down 3.75 percent from the day high and started trading at Rs 1,350.30. By the way, the company’s stock is trading at Rs 1,361.30 at 3.10 pm. The company’s stock closed at Rs 1387.65 a day earlier. Whereas on Friday, the company’s stock was opened at Rs 1,384.20 with a slight decline.
Reliance lost 71 thousand crore rupees
The special thing is that Reliance Industries lost more than 71 thousand crore rupees in just 25 minutes. Looking at the figures, when the company’s stock reached the high high of the day, then the market cap of the company was Rs 18,97,837.47 crore. After that, when the company’s stock reached the lower level of the day, the company’s market cap came to Rs 18,26,550.20 crore. This means that during the AGM of Reliance Industries, the company’s market cap has lost Rs 71,287.27 crore. According to experts, Mukesh Ambani announced Jio’s IPO, but it will be after the next year’s mid. While investors were confident that the IPO of the company would come around Diwali. Due to which the shares of Reliance Industries have seen profits.
Fall for third consecutive day
By the way, the shares of Reliance Industries are seeing a decline for the third consecutive day. On August 25, the company’s stock closed at Rs 1,412.90 with a slight rise. After that the company’s stock came to the lower level of the day with Rs 1,350.30 on Friday. This means that the company’s stock has seen a decline of 4.43 percent. At the same time, the market cap of Reliance Industries has lost about 85 thousand crore rupees. On August 25, the market cap of the company was seen more than 19 lakh crore rupees.