Reliance Industries, the company of Asia’s richest businessman Mukesh Ambani, could not escape the devastation in the stock market and the company’s shares closed with a decline of about 3 percent during the trading session. Due to which the market cap of Reliance Industries reduced by more than Rs 50,200 crore. According to BSE data, the company’s stock has currently fallen by 20 percent from its 52-week high.
The special thing is that the company’s shares have reached their lowest level in 10 months. By the way, there is also news that next year i.e. in 2025, Reliance Jio may enter the stock market and bring an IPO. Even after this news, there was no recovery in the company’s shares. Let us also tell you what kind of company figures are being seen in the stock market at present.
Big fall in Reliance Industries shares
Shares of Reliance Industries Limited (RIL), the country’s largest company in terms of market cap, fell by about three percent on Monday amid heavy selling. Reliance shares fell 2.77 percent to close at Rs 1,302 on BSE. At one time during trading, its share had fallen by four percent. Reliance Industries shares closed at Rs 1,302.15 on NSE with a decline of 2.72 per cent. If experts are to be believed, the company’s shares can reach Rs 1,270.
20 percent broken
The special thing is that the shares of Reliance Industries have fallen by 19 percent from their 52-week high. According to the data, the company’s 52-week high on BSE was Rs 1,608.95, which was seen on July 8. Since then, the company’s shares have seen a decline of more than Rs 300 i.e. 19 percent. If we look at today’s lower level, the company’s shares have seen a decline of Rs 323.85 i.e. 20.12 percent. According to experts, the company’s shares may see further decline. In the current year, the company’s shares have given a negative return of 0.50 percent to the investors.
Loss of Rs 50,200 crore
Due to this selling, there has been a big decline in the valuation of the company. According to the data, the market cap of the company on the last trading day of last week was Rs 18,12,120.05 crore. Which remained at Rs 17,61,914.95 crore by the time the stock market closed on Monday. This means that there has been a huge decline of Rs 50,205.1 crore in the market cap of the company. In terms of trading volume, 13.52 lakh shares of the company were traded on BSE and 197.97 lakh shares were traded on NSE.
Sharp decline in stock market
BSE’s benchmark index Sensex closed at a three-month low of 78,782.24 points, falling 941.88 points or 1.18 percent due to strong selling in the shares of Reliance and banks. NSE index Nifty also fell by 309 points or 1.27 percent and closed at 23,995.35 points. A decline of 9 percent has been seen in BSE and NSE from the record high and stock market investors have suffered a loss of about Rs 40 lakh crore.
