- Indian businessmen, including Ambani, Tata and Adani, suffered a severe erosion in their wealth.

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Mumbai, Ta. 28 February 2020, Friday

Coronavirus has caused a sharp erosion in some of India's top industrialists' wealth following a crackdown on foreign exchange markets.

According to the information received, Reliance Industries Chairman Mukesh Ambani's property has lost $ 5 billion. According to the Bloomberg Billionaire Index, the wealth of IT sector leader Azim Premji fell by $ 8 million, while industrialist Gautam Adani lost $ 8 million.

Apart from this, Uday Kotak and Sun Pharma's Dilip Sanghvi also suffered huge losses. His company's stock price has fluctuated drastically.

This decrease in wealth has been observed in the last 7 days. This erosion has resulted in a tremendous uptick in Indian stock markets. Indian stock markets have come under the influence of coronavirus since February 7, and the Sensex has lost more than 5 points.

Due to the coronavirus, the improvement seen in Indian stock exchanges 1 has been completely washed away. Apart from Reliance, the share prices of Tata group companies have also dropped significantly. Shares of the five companies of the group declined by twenty to twenty percent.

Analysts believe the stock market is still at risk of widespread collapse due to the collapse of several industries due to the coronavirus.

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