Rs 1.2 lakh crore investor wealth wiped out as RIL share falls most in seven months

Reliance Industries investors saw a reduction of Rs 1.2 lakh crore in their wealth today after the share of the Mukesh Ambani-led conglomerate closed nearly 9% lower in trade today. Market cap of the firm ended at Rs 12.69 lakh crore, a fall of Rs 1.2 lakh crore from Friday's close of Rs 13.89 lakh crore. Last week too, Reliance Industries Ltd (RIL) was the top loser among 10 top firms by market cap listed on Indian bourses.

Valuation of Reliance Industries Ltd's (RIL), India's most valued firm, tanked by Rs 39,355 crore to Rs 13.89 lakh crore at the end of trading on Friday.

Reliance Industries share has fallen by Rs 235 during last week on BSE. On October 23, Friday, the share closed at Rs 2112 on BSE.

Today, the share fell 9.46% intra day to Rs 1860 against previous close of Rs 2054. Later, the stock closed 8.62% or Rs 177 lower at Rs 1877  on BSE. This was the biggest single-day decline since March 23, 2020.

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The fall in the stock came after the firm reported its Q2 earnings after market hours on Friday.

The share has now fallen 21% from its all-time high of Rs 2,368 hit on September 16,2020. However, the share still stands 116.5% higher than its 52 week low of Rs 867.82 hit on March 23, 2020.

Total 14.44 lakh shares changed hands amounting to turnover of Rs 278.07 crore on BSE today.

The stock has fallen after two consecutive days of gain. However, in an year, the share has gained 28.85% and risen 24% since the beginning of this year. In a month, the share has lost 15.63%.

Reliance Industries Q2 results: Net profit falls 15% to Rs 9,567 crore

Meanwhile, at the end of volatile trade today, Sensex closed 143 points higher at 39,757 and Nifty gained 26 points to 11,669.