Reliance Industries Lost Rs 50,000 Crore Market Value In 13 Days

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Reliance Industries (RIL) has lost about Rs 50,000 crore on Bombay Stock Exchange (BSE) In November 2017 till date report in Business Today. The share price fell by over 8 percent in the first 13 days in November and closed at Rs 874.90 on Monday. The market value of the company stands at Rs 5.53 lakh crore now.

Mukesh Dhirubhai Ambani

Mukesh Dhirubhai Ambani is an Indian business magnate who is the chairman, managing director and largest shareholder of Reliance Industries Limited.

The crude may have the short-term impact on the company’s prospects because of the lags in product price realisation. It is essential that the price of petroleum products won’t rise in parallel to crude price. The Brent crude price has risen by over $10 a barrel since September and it stands at over $63 on Monday