Friday, August 19, 2022
Home Business Ambani Slips To Ninth Spot On Global Rich List After Losing Rs...

Ambani Slips To Ninth Spot On Global Rich List After Losing Rs 1 Lakh Crore In Sharp Sell-Off

- Advertisement -

Mumbai: India’s richest man Mukesh Ambani slipped to the ninth spot in the Forbes billionaires ranking.

Almost $7 billion Ambani lost on Monday as the stock market saw a selloff in Reliance shares, according to Forbes real time data on billionaires.

He now ranks behind Google co-founder Larry Page.

Reliance share price fell by almost 9% to ₹1,871.90 – its lowest in over three months.

The share price tanked in trade today, reacting to the huge fall in profits in Reliance’s second quarter earnings.

On October 30, Reliance posted its second quarter earnings where its profits declined by 32.5%.

The one-day blow has been huge for Reliance, whose shares had been on an upward graph for months now. Reliance’s total market cap has reduced to ₹12,64,061.50 crore – while shareholders lost over ₹1 lakh crore.

Another recent trouble for Ambani has been the legal tussle with Amazon over the Reliance-Future Retail deal.

Future Retail on November 1, had informed Indian stock exchanges BSE and NSE that Amazon is ‘entirely misconceived’ about the agreement between Amazon and Kishore Biyani (CEO of Future Group).

- Advertisement -
- Advertisement -
Stay Connected
16,985FansLike
2,458FollowersFollow
61,453SubscribersSubscribe
Must Read

Chandrakant Pandit Is New KKR Head Coach

Kolkata: Indian Premier League (IPL) franchise Kolkata Knight Riders announced former Mumbai coach and Madhya Pradesh’s Ranji Trophy-winning coach Chandrakant Pandit as its new...
- Advertisement -

Billionaire Investor Rakesh Jhunjhunwala No More

Mumbai: India’s Warren Buffet and top stock market investor Rakesh Jhunjhunwala passed away at 62 here on Sunday morning. Not keeping well for the last...

Ross Taylor Was ‘Slapped On The Face 3-4 Times’

Mumbai: Former Black caps batter Ross Taylor has made a startling revelation in his autobiography that arrived at the stands earlier this week. Taylor recalled...

Author Salman Rushdie On Ventilator; Cops Identify Attacker

New Delhi: Renowned author Salman Rushdie was on ventilator support and in danger of losing an eye after he was stabbed at a literary...
Related News

Chandrakant Pandit Is New KKR Head Coach

Kolkata: Indian Premier League (IPL) franchise Kolkata Knight Riders announced former Mumbai coach and Madhya Pradesh’s Ranji Trophy-winning coach Chandrakant Pandit as its new...

Billionaire Investor Rakesh Jhunjhunwala No More

Mumbai: India’s Warren Buffet and top stock market investor Rakesh Jhunjhunwala passed away at 62 here on Sunday morning. Not keeping well for the last...

Ross Taylor Was ‘Slapped On The Face 3-4 Times’

Mumbai: Former Black caps batter Ross Taylor has made a startling revelation in his autobiography that arrived at the stands earlier this week. Taylor recalled...

Author Salman Rushdie On Ventilator; Cops Identify Attacker

New Delhi: Renowned author Salman Rushdie was on ventilator support and in danger of losing an eye after he was stabbed at a literary...

Cattle Smuggling Case: CBI Arrests Anubrata Mondal In Dramatic Fashion

Kolkata: The Central Bureau of Investigation (CBI) arrested Trinamool Congress Birbhum district president Anubrata Mondal in connection with a cattle smuggling case from his...
- Advertisement -

45 COMMENTS

  1. Thhis is the pertfect blog ffor anybody who hopes to find out about this topic.
    You definitely put a brand new spin on a topic which has been discussed for decades.Wonderful stuff, just excellent!

  2. I got this site from my pall who shared wjth me concerning this website and
    now this time I am browsing this website and reading very informative
    articles or reviews at this place.

  3. Nice post. I was checking continuously this blog and I’m impressed!
    Very useful information specially the last part 🙂 I care for such info
    a lot. I was looking for this particular information for a long time.
    Thank you and est oof luck.

  4. I’m very happy to discover this page. I need to to
    thank you for ones time just forr this fantastic read!

    I definitely really liked everdy little bit of it aand I have you bookmarked to check out
    nnew things in your blog.

  5. Excellent post. I was checking continuously this blog and I am impressed!
    Extremely useful information. I caree for such information a
    lot. I wwas looking for this cdrtain information for a very long time.Thank you and good luck.

  6. Howdy! I could have swornn I’ve been to this blog before
    but after browsing through ome of the post I realized it’s new too me.

    Nonetheless, I’m definitely delighted I found it and I’ll be
    bookmarkibg and checking back frequently!

  7. Very nice post. I just stumbled upon your blog and wanted to say that I’ve truly enjoyed
    surfing around your blog posts. In any case I
    will be subscribing too your feed and I hope you write again very
    soon!

  8. I think this is one of the most important information for me.
    And i am glad reazding your article. But wanna remark on few
    general things, The web site style is perfect, the articles is really great!

LEAVE A REPLY

Please enter your comment!
Please enter your name here