India's five richest businessmen, including Mukesh and Anil Ambani, are estimated to have lost close to Rs 2,00,000 crore in the stock market meltdown that started last Monday.
The five individuals account for nearly one-eighth of the total erosion of close to Rs 16,00,000 crore in past seven trading sessions.
The losses are related to the five groups headed by Mukesh Ambani, Anil Ambani, KP Singh, Azim Premji and Sunil Mittal. Their Companies have lost almost 90 billion dollars
(Rs 3,36,000 crore) in this period.
The total investors' wealth, measured in terms of market capitalistion of all the listed Companies, has plunged by Rs 15,80,000 crore since last Monday.
Mukesh Ambani group, comprising the country's most valued firm Reliance Industries as well as Reliance Petroleum and Reliance Industrial Infrastructure, has lost Rs 1,45,245 crore.
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