Mukesh Ambani and Gautam Adani's fortunes take a hit after Russia - Ukraine conflict
By Lokmat English Desk | Updated: February 25, 2022 14:36 IST2022-02-25T14:36:50+5:302022-02-25T14:36:50+5:30
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The whole world is now focused on the Russia-Ukraine Conflict. Efforts are being made by other countries to end this conflict as soon as possible. The United States has begun imposing sanctions on Russia.
There are many reactions to this. Russia's attack on Ukraine has dealt a major blow to markets around the world. The Indian stock market also fell sharply. As a result, investors lost Rs 13.23 lakh crore in the stock market.
Reliance Industries chief Mukesh Ambani and Adani Group chief Gautam Adani have also been hit hard. Mukesh Ambani and Gautam Adani, two of the country's richest men, have been hit hard by a total of Rs 88,000 crore.
According to a report, the richest man in Asia and India, Mukesh Ambani, has lost 5.25 billion. He now has a net worth of 84.6 billion. Although he is still ranked 10th in the list of billionaires in the world. His total wealth this year
On the other hand, Adani Group chief Gautam Adani's fortune fell by 6.43 billion. Gautam Adani, the second richest man in India and Asia, now has a net worth of 80.6 billion. His net worth has increased by ० 4.09 billion this year.
In addition, Reliance Industries' market cap has declined by Rs 1.1 lakh crore in the last seven consecutive seasons. At the same time, the market cap of Adani Group shares has declined by Rs 66,000 crore in the last seven sessions.
Adani Enterprises suffered the biggest loss, knocking Rs 21,600 crore off their valuations. Adani Total Gas followed with Rs 20,143 crore loss and Adani Ports with Rs 13,241 crore.
At the same time, some of the stocks from Adani’s stable have shown resilience. Adani Green Energy has added Rs 3,810 crore during the same period.
For the Mukesh Ambani-owned Reliance Group stocks, the loss was steeper. They staved off Rs 1,12,131 crore or 6.78 per cent from their market capitalisation in the last seven sessions. Most of the losses came from Rs 1.10 lakh crore drop in Reliance Industries. Network 18 Media & Investments followed with Rs 1,288 crore market cap loss.
