How Did Reliance Lose Rs 1.23 Lakh Crore In Share Market?

by Rahul Gautam Nov 03, 2020 • 05:18 PM Views 745

Shares of Reliance Industries, the company with the highest market capitalisation, fell sharply by 8% on Monday, resulting in a loss of Rs 1.23 lakh crore in its market cap. This includes RIL owner Mukesh Ambani’s share of Rs 59,100 crore. The sharp fall brought down its total market cap from Rs 14.37 lakh crore to Rs 13.14 lakh crore in one stroke. Recently, Reliance Industries became the first Indian company to hit the market cap of $200 billion. The question arises, what happened that Rs 1.23 lakh crore of investors is wiped