look news india
The Finance Minister has started reading the budget and on the other hand the stock market and the shares of the country's major companies have started falling. Yes, before the budget announcement, Mukesh Ambani's Reliance Industries has suffered a loss of more than Rs 19,000 crore. Sensex falls for the second consecutive day. The company's shares are trading below Rs 3000. According to experts, a big fall can be seen in the shares of Reliance Industries on Monday. A day earlier, Reliance shares closed with a decline of three and a half percent and the company's valuation saw a decrease of more than Rs 73 thousand crore.
Reliance Industries shares fall
A few minutes before the budget, the stock market of the country's largest company is witnessing a decline. The company's stock is trading at 2975.20 with a decline of 0.90 percent i.e. Rs. 26.85. At the same time, during the trading session, the company's shares also touched the day's low of Rs 2,973. However, in the morning the company's shares opened with a positive trend at Rs 3004.95. A day earlier, the shares of Reliance Industries saw a decline of 3.50 percent. After which the company's shares closed at Rs 3001.10.
Big drop in valuation
Talking about the valuation of the company, Reliance Industries has suffered a loss of more than Rs 19 thousand crores 35 minutes before the budget started. The valuation of the company was Rs 20,30,488.32 crores when the stock market closed a day earlier. Whereas on July 23, the company's shares were at Rs 2.55. 2,973, while the company's market cap reached Rs 20,11,476.38 crore. This means that the valuation of the company has suffered a loss of Rs 19,011.94 crores 35 minutes before the budget.