Mukesh Ambani’s Reliance Industries’ stocks have shot up 141 percent since March. Ambani’s net worth has also swollen to $75.1 billion making him one of the richest people on the planet.
According to The Economic Times, since April, “Reliance Industries has raised around Rs 1,52,056 crore from marquee investors and tech majors such as Google and Facebook by selling over 33 percent stake in its Jio Platforms unit”.
In other news, India’s coronavirus numbers are out of control that India’s GDP contracted 23.9 percent in the April-June period.
This is the worst the GDP has been since 1996 and also the worst among all Asian economies.
This new data marks the likely onset of the deepest recession to ever hit India and is expected to run through the second half of this fiscal year.
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