"Mukesh Ambani lost 500 crore dollar in a single drop in oil business as Reliance's share price fell".
Mukesh Ambani owns a large company like Reliance Industries. One of the richest businessmen in the world. Mukesh Ambani's Reliance Industries is a major player in reducing the demand for oil during the Corona virus.
During this lockdown, Mukesh Ambani's other digital businesses made a lot of profit, but the oil refineries lost that much profit. Shares of Reliance Industries, the country's most expensive company, are said to be down 6.8%.
According to a report in the Bloomberg Billionaires Index, Mukesh Ambani's fortune has plummeted by about 7 thousands 300 crore dollar in a single stock market crash. Reliance's stock market is on the verge of collapse, this time in Mumbai stock market index BAC Sensex-Ao.
It dropped to about 0.7 percent. Stock market experts said that November 2 was the worst day for Mukesh Ambani in terms of profit in the oil market since the month of lockdown.
Reliance's stock market plunged to its lowest level since May 12 on November 2. Besides, the share price of Reliance Industries fell the most after July 20. At the time of the market shutdown, Reliance Industries' quarterly profit had fallen by about 15 percent.
As a result, the company reportedly lost 130 crore dollar at the time. In fact, the lack of vehicles during the lockdown in response to the Corona virus situation has led to a drop in oil demand across the country, which has hit Reliance's oil business.
The company's profit is about 24 percent. However, despite the big push in the oil business, Reliance Jio has attracted one new investment after another during the lockdown. Reliance Jio's net profit tripled during the lockdown.
The second quarter profit was Rs. 2,844 crore. In addition, the revenue per customer has also increased. Before Jio, the per capita income was RS. 128 which is now RS. 145.