look news india
Lok Sabha Election Results: The stock market crashed on Monday after no party got a majority in the Lok Sabha election results. Most stocks fell to lower levels. Shares of Reliance Industries also fell and Adani Group shares crashed. Due to this, investors lost money, affecting the wealth of Adani-Ambani. Gautam Adani earned $24.9 billion (about ₹208,129 crores) in a single day. While Mukesh Ambani suffered a loss of about 9 billion dollars (₹75144 crores).
After the exit polls, the market rose and on Monday Adani was the top gainer among the world's billionaires. On Tuesday, the day of the results, he became the top loser. Adani has dropped out of the $100 club. According to the Bloomberg Billionaires Index, Adani's total wealth is now $97.5 billion. He has slipped 3 places to number 15 in the ranking of billionaires. Adani's wealth and shares are behind the decline of his companies.
Shares of Adani Group companies fell on Tuesday. Adani Power fell 17.55 percent, Adani Enterprises 19.07 percent, Adani Ports 21.40 percent, Adani Total Gas 18.53 percent and Adani Green Energy nearly 20 percent. Adani Wilmar fell 10 percent. A lower circuit of 20 percent has been imposed on Adani Energy Solutions. Apart from this, ACC, NDTV and Ambuja Cement also collapsed. This affected Adani's fortunes.
Ambani's wealth decreased, his rank increased
Mukesh Ambani lost $8.99 billion in the stock market tsunami. Shares of Ambani's company Reliance Industries fell by 6.76 percent. This has reduced his wealth. Ambani's wealth may have decreased due to this, but his status among the world's billionaires has not decreased but increased. Ambani was at the 11th position in the list of rich people. He has once again snatched the crown of Asia's richest man from Adani.
