Mumbai
This year was disappointing for investors of many big companies including Reliance Industries. Reliance Industries, the company of India and Asia’s richest man Mukesh Ambani, is moving towards negative returns for the first time in 10 years. This year, the market cap of at least 27 companies included in BSE 500 has declined by more than one billion dollars i.e. about Rs 8,500 crore. Apart from Reliance, these include Asian Paints, HUL, Titan, Bajaj Finance, Adani Green Energy and DMart. In terms of value, Asian Paints has suffered the most loss. Zee Entertainment was the biggest loser in percentage terms. Its shares have declined 54% this year.
The biggest market cap decline in this calendar year was in Asian Paints. Shares of the country’s largest decorative paints company have fallen by about 33% so far during this period. Its market cap has fallen by Rs 1.07 lakh crore. The company is struggling with weak demand and margin pressure. Besides, it is also facing intense competition from JSW and Birla Group.
loss of reliance
Reliance Industries, led by Mukesh Ambani, India and Asia’s richest man, is heading towards negative returns for the first time in 10 years. Reliance shares have fallen by more than 5 percent this year. The market cap of the company has declined by more than Rs 93,000 crore to about Rs 16.5 lakh crore. However, it still remains India’s largest company in terms of market cap.
Adani Green Energy (Rs 89,648 crore), HUL (Rs 76,843 crore), IndusInd Bank (Rs 51,475 crore) and Adani Enterprises (Rs 50,951 crore) were among the biggest losers in terms of market cap. Apart from this, the market cap of Nestle India, Kotak Mahindra Bank, Berger Paints, IDFC First Bank, LTIMindtree, Zee Entertainment, Bandhan Bank, Tata Elxsi, Tata Consumer and Tata Technologies has declined by more than one billion dollars.
