Coronavirus impact, M Ambani's wealth fall. Stock Market News.




The impact of the Coronavirus, Mukesh Ambani's wealth fell by ₹ 36,000 crores.

The economic slowdown will end, there will be plenty of opportunities in the next decade: Mukesh Ambani.



Mumbai: The country's richest man Mukesh Ambani on Friday said that the current economic sluggishness is temporary and is affected by external fluctuations. They hoped it would end soon. He said that the country has many reasons to be more optimistic about the next decade. Reliance Industries (RIL) Chairman and Managing Director said that the coming decade will be a historic opportunity for business growth. This could make India one of the top three economies in the world.

Ambani said, "I think we have suffered a lot of temporary pain, but we are going to recover from the leadership that the finance minister has provided. Foreign fluctuations have greatly affected us, but I am very optimistic about the future." Yes. "

In the four decades of his business, Bakul Ambani started as a textile company by Reliance Industries and then became a big name for Petrochem. After that, the company emphasized on refining and energy and now has shifted its focus towards retail, consumer tech and telecom. Ambani said that the changing nature of the company reflects the ability and efficiency of youth leadership. He also praised his two children, Akash Ambani and Isha Ambani.

India's biggest industrialist could not escape the threat of the Coronavirus spreading across the globe. In fact, this virus has done a great deal to their wealth. The wealth of the country's richest man, Mukesh Ambani, has dropped to $ 5 billion (Rs 36,067 crore) this year.

According to the Bloomberg Billionaire Index, Aditya Birla Group's Kumar Mangalam Birla's wealth is $ 84.4 million (Rs 6,381 crore), IT giant Azim Premji's wealth is $ 86.9 million (Rs 6,273 crore) and Adani Group's Gautam Adani's assets are $ 49.6 million (Rs 3,580 crore).


[Gautam Adani on the right]


After the tremendous beating of the stock market, the wealth of Kotak Mahindra Bank's Uday Kotak and Sun Pharma Supremo Dilip Sanghavi have dropped drastically. Most of the wealth of these giants have dropped in the past 15 days.

During the 11 trading sessions since February 12, the BSE Sensex has slipped by 3,000 points. It appears that the Corps Path has also been arrested by the Coronavirus. During this period, the wealth of Rs 11.52 lakh crore has been cleared from the pocket of the investors.

Moving along with this decline, the wider market has also witnessed a huge decline during this period and has lost its entirety by 2020. Talking to domestic companies, the biggest selling market impact has been on Reliance Industries.

The market cap of all the companies of Reliance Industries (RIL) group has declined by Rs 53,706.40 crore during the period from February 13 to February 27. On Friday, shares of Reliance Industries have dived up to 3 per cent, which may have reduced its market cap.

Shares of Reliance Industrial Infrastructure declined by 13 per cent in RIL Group of Companies. Shares of Reliance Industries and Network 18 slipped 6-6 per cent. TV18 Broadcast recorded 7 per cent and Den Networks recorded 2 per cent weakness.

However, shares of group company Heathway Bhavani CableTel and Datacom have jumped more than 16 per cent. Reliance Industries Group recently acquired this company. However, the reliance on analysts still depends on Reliance Industries.

The wealth of Tata Group companies has been cleared at Rs 41,930 crore. The group's 21 companies are trading in red marks. Tata Teleservices and Automotive Stampings and Assembly showed a 25 per cent decline. Tata Motors has rolled out 15 per cent and Tata Elksi 12 per cent.

Jaguar Land Rover of Tata Motors has warned that its production in the UK and India will be affected due to the coronavirus in China. In order to maintain production in the UK, the company has visited several areas of China. Tata Motors lost 11 per cent and Tata Steel 6 per cent on Friday.

MK Research has advised Tata Motors to buy with a target price of Rs 238. The brokerage sees the potential to jump about 80% in this stock. Prabhudas Liladhar advised to hold it with a target price of Rs 185.

Speaking of top business families, the value of the Adani Group has dropped by Rs 27,100 crore. The wealth of the Aditya Birla family has increased by Rs 17,500 crore and the Wadia family running Britannia and Indigo Airlines has increased by Rs 3,300 crore.








Analysts believe the Coronavirus is in full swing. Marc Faber, a stock market player and author of Gloom, Boom and Doom, said the Coronavirus is destroying many industries. The impact is on heavy stocks already running at expensive prices.

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