Mukesh Ambani and Ratan Tata are the two biggest names in the business world. Ambani runs India's most-valued domestic company Reliance Industries. While Ratan Tata once led the Tata Group as chairman. Both Reliance and Tata groups have a vast presence in different sectors including FMCG, telecom and others. The two companies continue to grow their businesses. However, last week Reliance and Tata Group's TCS lost Rs 94961 crore in five days after their shares declined.
The market valuation of Reliance Industries tumbled Rs 60,824.68 crore to Rs 19,82,282.42 crore. The valuation of Tata Consultancy Services (TCS) slumped Rs 34,136.66 crore to Rs 16,12,762.51 crore. The two companies emerged as the biggest laggards, in line with weak trends in equities. Last week, the BSE benchmark dropped 1,181.84 points, or 1.43 per cent. The combined market valuation of eight of the top-10 most valued firms got eroded by Rs 2,01,699.77 crore last week.
Despite losing Rs 60,824.68 last week, Reliance Industries remained the most-valued domestic firm followed by TCS. While Mukesh Ambani still holds the title of richest man in India with a real-time net worth of USD 113.7 billion. The 67-year-old billionaire is in 12th position on Forbes World's billionaires list.
