ambani could not leave impact on investors ril reliance industries market cap decreased by 40000 Crores
Reliance’s stock was broken yesterday after Mukesh Ambani’s announcement. The company’s sherur today again fell 3 percent. That is, the market cap has decreased by 70 thousand crores within two days.
New Delhi. The bad effect of the sharp business announcement made by Reliance Industries Chairman Mukesh Ambani at the AGM on Thursday is clearly visible on the market today. After breaking the company’s stock by about 1.5 percent yesterday, today the company’s stock fell by 3%. As a result, the market capitalization has come down by Rs 40,000 crore.
70 thousand crore loss in 2 days
The stock of Reliance Industries has been falling since Friday morning. Currently trading at Rs 2,081. Its market cap has gone up to Rs 13.25 lakh crore. At the close of the market yesterday, the stock stood at Rs 2,153 while the market cap was Rs 13.65 lakh crore. That is, in two days, there has been a decline in the market cap of 70 thousand crores due to Ambani’s words.
Read More: Reliance AGM 2021: Mukesh Ambani said – the company’s retail business will triple in a few years
Ambani could not impress investors
During the AGM of Reliance Industries on Thursday, Mukesh Ambani made a lot of announcements. In this, talks like investment of more than 90 thousand crore rupees in various projects, new phones of Jio and growth on retail. Along with this, he also indicated to complete the deal with Saudi Aramco which has been stuck for two years. His words had no effect on the investors in the market. The shares of AGM were already in decline. However, it was expected that Ambani might make some good announcements. But the announcements he made were not taken seriously by the market. In fact, in the 2019 AGM, Mukesh Ambani had announced a deal of 20% stake with Saudi Aramco. After 2 years, once again he has said the same thing that it will be finalized soon. Investors didn’t see a clear picture on this either.
Mukesh Ambani said that the performance of Reliance has been consistently outstanding. Its total revenue has been Rs 5.40 lakh crore. As a big company of the country, Reliance’s contribution to the country’s economy has been good. 75 thousand new jobs have been given. Our oil to chemical business continued to struggle with challenges due to the slowdown in the economy. Reliance is still the only company globally which is running its operations at full capacity and making profit every quarter.
The company invested $ 90 billion in the value of shareholders
Let us tell you that in the last 10 years, Reliance has invested 90 billion dollars in the value of the country and the shareholders. In the coming decade, Reliance will invest $200 billion directly and with partners. Reliance had raised Rs 3 lakh 24 thousand 432 crore last year. This money was raised through Jio Telecom, Retail and rights issue among other ways.
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Web Title: Ambani Could Not Leave Impact On Investors RIL Reliance Industries Market Cap Decreased By 40000 Crores
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