Anil Ambani rises as value of his company jumps by over Rs 24000 crore, Mukesh Ambani suffers Rs 13612 crore loss due to…
GH News October 06, 2024 09:06 PM
Mukesh Ambani one of the world’s richest men experienced a major setback as his wealth plunged due to the recent crash in the Indian stock market. His net worth dropped by USD 1.62 billion (around Rs 13612 crore) within a few hours during the market crash. Notably the Indian stock markets—NSE and BSE—continued to experience a bloodbath throughout the week with the Sensex falling by over 4000 points. Investors lost Rs 16 lakh crore during this market crash phase. Anil Ambani Company’s Stocks Surge Amid Market Crash Anil Ambani witnessed a remarkable turnaround as Reliance Power and Reliance Infrastructure saw a continuous rise in their stock prices even during the market crash. In contrast Mukesh Ambani faced losses. In just a span of 10 days Reliance Powers stock price took a leap from Rs 36 to Rs 53.64 ramping up the firms value by an impressive amount of above Rs 4000 crore. Similarly Reliance Capital also enjoyed a significant upturn growing its market capitalization from a solid Rs 16000 crore to a whopping Rs 20000 crore. Anil Ambani had a remarkable September - his company Reliance Power has successfully become debt-free while Reliance Infra has managed to slash its debts by a whopping 80%. As a result theres a surge in the number of orders these companies are receiving and investors are showing increased interest. Sanjay Dangi and Sanjay Kothari two prominent equity investors have plans up their sleeve to funnel a whopping Rs 925 crore into Reliance Power. Notably the company has recently bagged a lucrative deal to harness a total of 1270 MW of solar and hydropower potential in the picturesque land of Bhutan.
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