India’s richest man Mukesh Ambani slipped to the 9th position in Forbes Billionaire rankings world-wide.
The second quarter report of Reliance Industries came on Friday, the effect of which was seen on the shares of Reliance Industries on Monday. In fact, the company’s profit fell by 15 per cent in the September quarter, due to which there has been a huge decline in the company’s shares.
Reliance Industries Limited saw more than 9 percent shares on Monday. At the end of trading, RIL shares fell 8.69 percent to close at Rs 1876 on the NSE. At the same time, the lower circuit started with a 10 percent fall in the partially paid share of Reliance Industries.
In fact, after the market closed on Friday, Reliance announced its quarterly results. The company’s profit in the September quarter decreased by 15 percent on comparison with the previous year. The oil and chemical business slowed down in this quarter, while the company performed well in telecom and IT.
