Nikhil Kuruganti: Richest 5 of India In Loss

Richest 5 of India In Loss

Companies run by India's five richest, including the two Ambanis, have lost a whopping Rs 5 trillion in market value in the current bear phase that began early this year.

The cumulative market value of companies belonging to the groups led by five wealthiest of the country, Ambani siblings Mukesh and Anil, real estate magnate Kushal Pal Singh, software czar Azim Premji and telecom tycoon Sunil Mittal, on Monday fell to about Rs 8.5 trillion.

Among the five groups led by the five richest Indians, the one led by the wealthiest of them, Mukesh Ambani, has recorded the maximum value erosion of about Rs 1,71,000 crore. Mukesh emerged as the richest person in India in March this year with a net worth of about Rs two trillion.

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