Corona virus affected, $ 5 billion erosion of country's richest Mukesh Ambani

Mumbai, 28 February 2020 Saturday

Although Coronavirus has not yet entered India, its effects have been widely seen in the country's stock market. Mukesh Ambani's valuation of the country's richest man Mukesh Ambani has dropped $ 5 billion due to corona virus. Reliance's stock has also not been excluded from the steady decline in the stock market over the past few days.

The stock market has been experiencing strong erosion over the past few days following the Coronavirus flutter. Shares of various companies have also seen a good erosion in the fortunes of India's top wealthiest.

Kumar Mangalam Birla's wealth has also fallen by about $ 884 million after Mukesh Ambani in the last two months. While IT tycoon Azim Premji also lost $ 869 million, Gautam Adani lost $ 496 million.

Uday Kotak of Kotak Mahindra Bank and Dilip Sanghvi of Sun Pharma are also among the biggest losers. The shares of the company of the two billionaires have also fared well in the last two months.

This figure is only up to February 27. On February 28, the Sensex has lost 1448 points. If today's reductions were added, then the erosion in the wealth of billionaires, including Mukesh Ambani, would increase.

In the last 11 days, Reliance's market cap has fallen by Rs 53,706 crore, Tata's Rs 41,930 crore, Adani's Rs 27,101 crore and Aditya Birla's wealth of Rs 17,534 crore.

Most of these shares have eroded in the last 15 days. From February 12 to February 28, the Sensex has dropped by 4500 points. In which more than 1.5 lakh crores of investors have been washed away.