Reliance’s $50 Billion Wipeout Shows Toll of Weak Earnings
Reliance Industries Ltd. has erased almost $50 billion in market capitalization since its peak in July as the most valuable Indian firm struggles with weakening earnings and an economic slowdown. Shares of the refining-to-retail conglomerate led by billionaire Mukesh Ambani have barely risen this year, trailing the benchmark NSE Nifty 50 Index by the widest…
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