It seems like the Indian market just went through a drastic downslide because of which two of the country’s billionaires have lost some huge amounts which have reduced their net worth, Gautam Adani has lost over 4.2 billion if we consider all of his companies which happened on April 12 and Mukesh Ambani has lost up to 2.7 billion and the shocker is not only this.
The reason for the crash down is reliance on industries to some extent which means that two of the titan businessmen of the country have lost over 7 billion dollars will affect the economy in a drastic manner, 1700 points just vanished in no time from the Sensex and even the nifty 50 kept getting lower as the day went by, 3.53% to be exact which is just tragic for the companies and their stakeholders.
As most of Adani’s companies made the red line in the market, he has lost around 4.2 billion on the Forbes Billionaire index which has been the opposite to what has happened to him in the previous month as it was a dream month for him as he was holding the crown of adding the most billions to his list in that month leaving behind all of the big names such as Jeff Bezos, Tesla and Space X.
The experts are stating that this drastic loss has happened due to the 2nd wave of the coronavirus which has affected the companies to its roots hence such big losses have taken place for both of them.
- Reliance Capital -4.75%
- Reliance Naval And Engineering -4.84%
- Reliance Communications -2.94%
- Reliance Industrial Infrastructure -5.73%
- Reliance Infrastructure -10.25%
- Reliance Home Finance -4.08%
- Reliance Power -9.3%
- Reliance Industries -3.35%
- Ambani’s Numbers
- Adani Enterprises -11.1%
- Adani Power -4.97%
- Adani Total Gas -9.36%
- Adani Green Energy -5%
- Adani Ports And Special Economic Zone -8.94%
- Adani Transmission Limited -5%
We hope that the company’s figure out the problems and act upon it as this is also a huge loss for the country and it’ll affect the financials of the nation.