Reliance Group companies eroded over Rs 40,000 crore market-cap on Monday, due to broad-based weakness in the markets. Market-cap of these companies declined Rs 40,511.91 crore to Rs 17.46 lakh crore.
All stocks declined, with the Sterling & Wilson Renewable Energy Ltd. leading losses. Just Dial Ltd. and Balaji Telefilms Ltd. were other top losers.
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Reliance Group's flagship company, Reliance Industries Ltd. was the third biggest loser in the NSE Nifty 50. In terms of point contribution, Reliance Industries is the second top dragger in the NSE Nifty 50. Reliance Industries holds the second highest weightage in the benchmark index.
With Monday's decline, Reliance Industries declined for two days in a row. Except Thursday's session the stock fell for three days in a row. On Monday, Reliance Industries' market cap fell Rs 35,319.49 crore to Rs 15.89 lakh crore.
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