March 3rd 2025.
Mumbai was abuzz with news of a significant decline in the stock prices of Reliance Group companies on Monday. The market capitalisation of these companies took a hit of over Rs 40,000 crore, bringing it down to Rs 17.46 lakh crore. This decline was part of a larger trend in the market, with all stocks within the group experiencing losses.
Leading the fall was Sterling & Wilson Renewable Energy Limited, followed by Just Dial Limited and Balaji Telefilms Limited, which were among the top losers. Even Reliance Industries Limited, the flagship company of the Reliance Group, was not spared from the downward trend, ranking as the third biggest loser in the Nifty 50. Its contribution to the decline in the overall Nifty index was significant, considering it holds the second largest weightage in the benchmark index.
The market capitalisation of Reliance Industries alone fell by a staggering Rs 35,319.49 crore, bringing it down to Rs 15.89 lakh crore. This marked the second consecutive day of decline for the company, following a three-day losing streak earlier in the week (excluding Thursday's session). By the end of Monday's trading session, Reliance Industries' shares had closed at Rs 1,174, with a drop of Rs 26.10 or 2.17 per cent.
Other notable losses were recorded by Just Dial, whose shares saw a drop of Rs 54 or 6.43 per cent, closing at Rs 786.25. Similarly, Sterling & Wilson Renewable Energy's shares fell by Rs 15.65 or 6.13 per cent, closing at Rs 239.80. Jio Finance also experienced a decline, with its shares falling by Rs 6.31 or 3.04 per cent, closing at Rs 201.30. Balaji Telefilms Limited and Alok Industries Limited also saw their shares take a hit, closing at Rs 50.74 and Rs 14.85 respectively.
Overall, it was a choppy and unpredictable day for the domestic equity indices, with mixed global cues and a lack of clear direction in the market. In the early hours of trading, both indices showed promise by staying in the positive territory, but the momentum quickly shifted towards the downside. As a result, the intra-day trading session ended almost flat. It remains to be seen how these companies will fare in the coming days and whether they will be able to bounce back from this decline.
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