Due to inflation data and indifference of FIIs, the stock market witnessed a decline of 1.25 percent on Wednesday. The effect of which was clearly visible on the shares of all the big companies of the country. The shares of Reliance Industries, the company of Asia’s richest businessman Mukesh Ambani, also saw a decline of more than one and a half percent. By the way, the shares of Reliance Industries have been falling for a long time. The company’s stock has fallen by more than 22 percent from its 52-week high.
If experts are to be believed, the kind of economic figures are being seen. There is a record decline in the rupee and the indifference of FIIs is visible. The effect of all this can be seen in the big companies of the country along with the stock market. Let us also tell you how the performance of Reliance Industries shares was seen in the stock market and how much loss was caused to the market cap of the company.
Reliance Industries shares fall
On Wednesday, there was a decline of more than one and a half percent in the shares of Reliance Industries. According to BSE data, shares of the country’s largest company Reliance Industries closed at Rs 1,252.25 with a decline of 1.64 percent i.e. Rs 20.85 per share. Whereas this morning it opened at Rs 1,269.50 with a slight fall. Which also reached the day’s lower level with Rs 1,249.70 during the trading session. By the way, the company’s shares are coming very close to the lower level of 52 weeks. The 52 weeks lower level of the company is Rs 1,163.40. In such a situation, there is not even a difference of Rs 100 left between today’s closing and the lower level of 52 weeks.
The stock has fallen by more than 22 percent
However, the stock of Reliance Industries has fallen by more than 22 percent from its 52-week high. According to the data, Reliance Industries shares were seen at Rs 1,608.95 on July 8. Since then, the shares of Reliance Industries have seen a fall of Rs 356.7. This means that Reliance investors have suffered a loss of 22.17 percent. If experts are to be believed, there may be fluctuations in the shares of Reliance Industries in the coming days. This means that the company’s stock can go below the current 52-week lower level.
The company suffered huge losses
On the other hand, due to the fall in the shares of Reliance Industries, there has been a big decline in the market cap of the company. The market cap of the company has fallen below Rs 16 lakh crore. A day earlier the market cap of the company was Rs 17,22,806.40 crore, which has come down to Rs 16,94,591.40 crore on Wednesday. This means that the valuation of the company has reduced by Rs 28,215 crore on Wednesday. At the same time, when the company’s shares were at a 52-week high on July 8, the valuation of the company had reached Rs 21,77,291.14 crore. Since then, there has been a decline of Rs 4,82,699.74 crore in the market cap of the company.
