Mukesh Ambani's net worth falls $6.8bn after RIL Q2 earnings : Bulletin: Business Today
Business Today

Mukesh Ambani's net worth falls $6.8bn after RIL Q2 earnings

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Shailendra Shukla | November 3, 2020

Mukesh Ambani's net worth falls $6.8 billion after Reliance Industries investors spooked by Q2 earnings

Reliance Industries chairman and managing director Mukesh Ambani slipped to the ninth spot on Forbes Billionaires list, after shares of his conglomerate fell over 9% post Q2 earnings. On Friday, Ambani was at sixth spot on the list. As per Forbes' real-time net worth data, Ambani's fortune fell by $6.8 billion to $71.5 billion after RIL stock ended 8.62% or Rs 177 lower at Rs 1877 on BSE.

Hiring in auto sector continues to improve, grows 29% in September

Hiring in India's auto sector further improved with a 29% sequential growth in September this year, even though it continues to stay below the pre-COVID-19 period. This positive trend has persisted since June 2020 and the sector has been recovering month on month, said in a statement.

PhonePe's transactions reach 925 million in October; exceeds Paytm, Google Pay

Flipkart-backed PhonePe's user base has crossed the 250 million-landmark. The fin-tech company reported more than 100 million monthly active users (MAU) and 2.3 billion app sessions in October. According to an official statement, PhonePe has processed the highest number of transactions in October at 925 million.

Netflix India's FY20 revenue doubles on cheaper mobile plans, local content

Netflix India's FY20 revenue rose two-fold, largely backed by Indian content and a low-cost mobile-only plan. According to the video streaming platform's filing with the Registrar of Companies (ROC), the company reported a revenue of Rs 923.7 crore and a net profit of Rs 8.9 crore.

WHO chief in self-quarantine after being identified as contact of COVID-19 positive person

World Health Organization Director-General Tedros Adhanom Ghebreyesus said on Sunday that he had been identified as a contact of someone who tested positive for COVID-19, but added that he was feeling well and did not have any symptoms.

Tata Motors' PV sales grow 79% in October; domestic sales rise 27%

Homegrown auto manufacturer Tata Motors on Monday reported an impressive double-digit growth of 79 per cent in its passenger vehicle (PV) segment. The company's domestic PV sales were 23,617 units in October this year as against 13,169 units in the same month of the previous year. The company, in a press release, reported overall domestic sales of 49,669 units in October 2020, a rise of 27 per cent rise as compared to the corresponding month of the last year.

Anil Ambani's Reliance Capital invites bids for stake sale in subsidiaries

Anil Ambani-led Reliance Capital has invited bids to sell stakes in its subsidiaries, including Reliance General Insurance and Reliance Nippon Life Insurance, so as to clear dues worth nearly Rs 20,000 crore. The process to invite expressions of interest (EOI) began on October 31 this year so as to raise capital for making Reliance Capital Limited (RCL) debt free, news agency PTI reporte

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