Gulf Frame
Richest man Mukesh Ambani lost as much as $5 billion from his net worth as Reliance Industries tumbled to the lowest price in more than three months! The stock of India’s most-valuable company closed 8.6% lower in Mumbai on Monday, slipping the most since March 23. It was the day’s worst performer on the benchmark S&P BSE Sensex, which rose 0.4%. The slide also shaved down Ambani’s wealth to about $71 billion. RIL reported the drop in its second-quarter net profit as a slump in core oil and chemicals business dragged down continued good showing in consumer-facing verticals such as telecom.
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