Mumbai, March 3 (IANS). Reliance Group companies declined a major decline on Monday and due to this the market cap of the group has declined by more than Rs 40,000 crore.
The market cap of all the companies of Reliance Group has been reduced to Rs 40,511.91 crore to Rs 17.46 lakh crore.
The reason for this decline is believed to be weakness in the stock market, due to which the shares of all the companies of the group closed in the red mark.
Just Dial Limited was the biggest decline, followed by Sterling and Wilson Renewable Energy Limited and Balaji Telefilms Limited, which was the most damaged.
Reliance Group’s flagship company Reliance Industries Limited had the third largest top losquet in Nifty 50.
Reliance Industries had a major contribution in closure in the red mark of Nifty. This is the second highest weight stock in the benchmark of the National Stock Exchange (NSE).
The market cap of Reliance Industries has reduced by Rs 35,319.49 crore to Rs 15.89 lakh crore.
The stock is declining with two consecutive business seasons. Last week, it was closed in a red mark for three days, leaving Thursday’s trading session.
Reliance Industries shares fell by Rs 26.10 or 2.17 percent to close at Rs 1,174.
Just Dial’s stock fell at Rs 54 or 6.43 percent to close at Rs 786.25. At the same time, the stock of Sterling and Wilson Renewable Energy fell by Rs 15.65 or 6.13 percent to close at Rs 239.80.
The stock of Geo Financial Services also declined and fell at Rs 6.31 or 3.04 percent to close at Rs 201.30.
Balaji Telefilms Limited lost Rs 2.67 or 5 percent to close at Rs 50.74, while Alok Industries Limited’s stock saw a decline of Rs 0.51 or 3.32 percent and closed at Rs 14.85.
The domestic markets shut down flat due to the mixed global signals.
-IANS
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