Mukesh Ambani, Asia\u2019s richest man, lost as much as $5 billion from his net worth as Reliance Industries Ltd.\u2019s shares tumbled to the lowest price in more than three months following a drop in quarterly profit.<\/p>\n
The stock of India\u2019s most-valuable company fell as much as 6.8% in Mumbai on Monday as of 12:21 p.m., slipping the most since May 12 and touching the lowest since July 20. The benchmark S&P BSE Sensex only declined as much as 0.7%. The slide also shaved down Ambani\u2019s wealth to about $73 billion to mark his worst day since March, according to the Bloomberg Billionaires Index.<\/p>\n
The refining-to-retail conglomerate reported a 15% decline in quarterly profit to 95.7 billion rupees ($1.3 billion) late on Friday, as the coronavirus pandemic hit fuel demand. Revenue fell 24% to 1.16 trillion rupees.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mukesh Ambani, Asia\u2019s richest man, lost as much as $5 billion from his net worth as Reliance Industries Ltd.\u2019s shares tumbled to the lowest price in more than three months following a drop in quarterly profit. The stock of India\u2019s most-valuable company fell as much as 6.8% in Mumbai on Monday as of 12:21 p.m., slipping the most since May 12 and touching the lowest since July 20. The benchmark S&P BSE Sensex only declined as much as 0.7%. The slide also shaved down Ambani\u2019s wealth to about $73 billion to mark his worst day since March, according to the […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-381984","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/381984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=381984"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/381984\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=381984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=381984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=381984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}