Reliance Group’s Mcap Falls Over Rs 40,000 Cr

Mumbai: The stock of Reliance Group companies saw a significant decline on Monday, eroding more than Rs40,000 crore from their market capitalisation. The total market capitalization (mcap) of these companies dropped by Rs40,511.91 crore, bringing it down to Rs17.46 lakh crore.

The sharp losses were part of a broader weakness in the market, with all stocks within the group registering losses.

Sterling & Wilson Renewable Energy Limited led the fall, followed by Just Dial Limited and Balaji Telefilms Limited, which were among the biggest losers. Reliance Industries Limited, the flagship company of the Reliance Group, was the third biggest loser in the Nifty 50.

The company contributed significantly to the decline in the Nifty index, and is the second largest weightage stock in the benchmark index.

Reliance Industries’ market capitalisation fell by Rs35,319.49 crore, dropping to Rs15.89 lakh crore. The company has now seen two consecutive days of decline, following a three-day losing streak earlier in the week, excluding Thursday’s session.