Mukesh Ambani suffers ₹344730000000 crore loss, around $2.18 billion.

Mukesh Ambani Faces ₹34,473 Crore Loss, Equivalent to $2.18 Billion Hit

Written by: Supriya Kadu

Edited by: Omkar Devadkar

Last Updated: October 24, 2024

Summary: Mukesh Ambani loses ₹344730000000 crore in just one day with a sharp decline in the Reliance Industries shares.

Reliance Industries chairman. Mukesh Ambani lost Rs 344730000000 crore in a single day as the company’s stocks plummeted. The stock price fell 1.86% (₹50.95), closing at ₹2687.30. This caused a market capitalization loss of ₹34,473.43 crore.

This has decreased Ambani’s wealth by $2.18 billion. Over the past two months, his fortune has steadily declined. His net worth now stands at $112 billion.

He received the bad news ahead of Akash Ambani and Isha Ambani’s birthday. The Rs 344730000000 crore loss caused the market cap to go down to ₹8,18,262.08 crore from ₹18,52,735.5 crore.

The Indian stock market has been declining for a few weeks now, which is affecting the value of major businesses like Reliance Industries, owned by Mukesh Ambani.

Shares of Reliance Industries were selling at ₹2687.3 at 16:02 on October 22, a decrease of 1.86% from the previous closing price. The Sensex was down -1.15% at ₹80220.72. Throughout the day, the stock fluctuated between a high of ₹2751.9 and a low of ₹2680.

India's top stock market index, the 30-share BSE Sensex, also had issues. Despite some promising investor activity during the day, the index fell below 80,000 on Tuesday, closing at 79,891.68 due to a spike in selling in the afternoon.