Mukesh Ambani, the richest man in Asia, lost Rs 9200 crore in just one day on Tuesday. The development comes after the share market fell following announcements by Finance Minister Nirmala Sitharaman in Union Budget 2024 on Tuesday. She announced an increase in long-term (LTCG) and short-term capital gains (STCG) tax which caused the stock market to turn red.
Amidst the turmoil in the stock market on the budget day, the stock of Mukesh Ambani's company Reliance Industries was seen trading in the red. It affected Mukesh Ambani's net worth. According to the Bloomberg Billionaires Index, the 67-year-old's net worth has decreased by USD 1.10 billion or Rs 9200 crore in the last 24 hours. Due to this, it has come down to USD 112 billion. However, on Wednesday, Reliance Industries' share was trading with a slight increase and closed at Rs 2,988.
Moreover, Gautam Adani, chairman of the Adani Group, and the second richest man in India, has benefited after the budget announcement. His net worth has increased by USD 724 million or about Rs 6060 crore in a single day. After this, his wealth has increased to USD 102 billion. On the day of the budget, the shares of Adani Group's companies listed in the stock market saw a rise. On Wednesday, Adani Enterprises' share closed at Rs 2,968.80 on NSE.
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