Investors had high expectations from the 46th AGM of Reliance Industries. Investors were most hopeful about the IPO of Reliance Jio and Retail Arm. On which neither there was any announcement. Nor did he give any indication. Because of which there was a decline in the shares of Reliance Industries. The special thing is that the market cap of the company suffered a loss of more than Rs 27,700 crore in 90 minutes. On the other hand, Jio Financial's stock also appeared to be slightly raised during the AGM, but the stock closed at the red mark till the market closed. Let us try to understand from the figures of Reliance Industries shares.
Fall in company shares
Disappointed with the AGM, investors started selling shares of Reliance Industries. When the Reliance AGM started, the company's stock was at Rs 2480, which closed at Rs 2442.55 with a fall of nearly Rs after the market closed. If we look overall, the company's stock has seen a decline of 1.11 per cent i.e. Rs 27.40 as compared to Friday. By the way, the company's stock had reached Rs 2483.50 during the whole day's trading session. The company's stock had closed at Rs 2469.95 on Friday.
27,700 crore swaha in 90 minutes
As soon as Reliance AGM started, the company's stock had reached the day's high with Rs 2483.50. At that time the market cap of the company has reached Rs 16,80,241.19 crore. When the market closed, the market cap of the company came down to Rs 16,52,535.99. This means that in about 90 minutes, more than Rs 27,700 crore was lost from the market cap of the company.
Shares of Jio Financial declined marginally.
On the other hand, there has also been a decline in the shares of Jio Financial. According to BSE data, Jio Financial closed at Rs 211.65, down 0.28 per cent. While during the AGM, the company's share went to the day's high with Rs 222.85. By the way, the company's stock opened at Rs 216 today. While the company's stock had closed at Rs 212.25 a day earlier.
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