During Diwali, Mukesh Ambani owned Reliance Industries earned Rs 15,393.45 crore in the share market. Its market cap increased to Rs 18,12,120.05 crore.
Chairman of Reliance Industries, Mukesh Ambani, is the richest man in Asia and among the wealthiest persons in the world. He is known for his strong decision-making and risk-taking abilities, which skyrocketed his business. His company spans almost all sectors, such as petrochemicals, oil and gas, telecom, retail, and others. Telecom company Jio is also performing well and has dominated all the major players in the telecom market. Notably, Reliance Industries remains the most valuable firm in the country. During the festive season last week, it earned Rs 15,393.45 crore in the share market after its shares surged. Its market cap soared to Rs 18,12,120.05 crore.
Ambani Kids In Business
In the year 2023, all the three kids of Mukesh Ambani joined the board of Reliance. The baton of Jio is being carried forward by his heir, Akash Ambani. At the same time, his vivacious daughter, Isha Ambani holds the helm of retail and financial services portfolios. Anant Ambani, the youngest of the siblings, is making his mark in the energy sector. The Reliance’s feather in the cap, telecom and broadband service “Jio”, prides itself in having an astounding base of about 490 million subscribers. Also, in the lucrative month of July 2023, they etched another milestone with the launch of Jio Financial Services in the stock market.
Jio Loss Customers
Jio and other telecom service providers such as Airtel and Vodafone Idea lost lakhs of its customers due to the tariff hike. First Jio increased the prices of its tariffs and after that all the private players increased the prices. However, people are attracted towards BSNL as it offers the cheapest mobile plans. Jio has now introduced some new plans to regain its customers.
Mukesh Ambani’s Net Worth
As per Forbes real-time billionaires list, the net worth of businessman Mukesh Ambani is USD 105.1 billion, approx. Rs 88,42,46,94,32,210.00.
Othe Gainers
Last week was marked by gains for prominent businesses including Reliance Industries, ICICI Bank, State Bank of India (SBI), ITC, Hindustan Unilever as well as the Life Insurance Corporation of India (LIC). These aren’t minor players – they’re six out of the country’s ten most valuable firms, and their combined market value surged by an astounding Rs 1,07,366.05 crore. Leading the race in profits were banking behemoths – SBI and ICICI Bank.
Muhurat Trading
Celebrating Diwali and ringing in the New Samvat 2081, the BSE and NSE hosted an exclusive ‘Muhurat Trading’ event for an hour on November 1st. This comes after we saw the BSE index making strides last week, gaining an impressive 321.83 points, an uptick by a solid 0.40 percent.