Mukesh Ambani and Anil Ambani's Significant Setbacks Linked to Israel-Iran Crisis

Thursday, 3 October 2024, 23:22

Mukesh Ambani and Anil Ambani suffer massive losses as the Israel-Iran tensions impact the markets heavily. Share prices of Reliance Industries plummet, leading to significant market cap reductions. Key developments indicate increasing investor anxiety amidst geopolitical instability.
Timesnownews
Mukesh Ambani and Anil Ambani's Significant Setbacks Linked to Israel-Iran Crisis

Mukesh Ambani's Market Losses

On Thursday, Mukesh Ambani witnessed his wealth diminish as Reliance Industries' share price dropped by 3.91 percent, leading to a market cap loss of Rs 77,607 crore. The stock's closing price was Rs 2,815.25, with a peak decline reaching up to Rs 2,775 during trading.

Anil Ambani's Declining Shares

In parallel, Anil Ambani's Reliance Power experienced a sudden drop of 5 percent after an 11-day rise, pushing down its market cap to Rs 20,474 crore. The stock fell from Rs 53.65 to Rs 50.97, reflecting the broader market's response to geopolitical uncertainty.

  • Investor Sentiment: Heightened concerns about the Middle East crisis have significantly shaken investor confidence.
  • Reliance shares have notably declined for four consecutive days, indicating a potential ongoing trend.

Broader Market Impact

As tensions escalate, the Indian stock market opens lower, with Sensex dipping over 1700 points, reflecting a loss of Rs 11 lakh crore for investors. The implications for India's 14 listed companies linked to Israel could be profound, necessitating careful monitoring.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe