NET WORTH OF AMBANI, ADANI DIP BY MILLIONS AS STOCKS DECLINE

Mon 20 October 2023:

The net worth of Reliance Industries Limited (RIL) Chairman Mukesh Ambani and Adani Group Founder Gautam Adani has dipped by millions today due to the decline in stocks amid foreign fund outflow.

According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 477.76 crore on Friday.

Ambani, Adani continue to be richest persons in India despite decline in net worth

Mukesh Ambani’s net worth declined by USD 472 million, while Gautam Adani lost USD 214 million today due to a decline in the prices of stocks. After today’s loss, Ambani’s wealth stands at USD 91 billion, maintaining his position as the richest person in India. On the other hand, Adani’s wealth reached USD 51.2 billion.

In terms of percentages, Ambani and Adani lost merely 0.52 percent and 0.42 percent of their wealth, as per Forbes real-time billionaire list.

RIL, Adani stocks trade in red

Meanwhile, the stocks of RIL and Adani Group companies have declined and were trading in the red.

As of 11:05 am, the share price of RIL was Rs 2342.55, declining by Rs 13 today, a 0.55 percent drop. The share of the flagship company of Adani Group, Adani Enterprises, saw a 0.75% decline to Rs 2192.15.

Due to the decline in stocks of RIL and Adani Group companies, the net worth of Ambani and Adani has declined by millions today.

-Siasat

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