Top business promoters richer by Rs 1.33 trn after Friday's market rally

Promoters' stake in RIL is now worth Rs 3.67 trillion slightly up from Rs 3.66 trillion at the end of June this year

Thanks to the strong market rally on Friday after the tax cut announcement, the country’s top business promoters have now recouped more than two-thirds of the losses that they suffered in the post-Budget sell-off in equity markets. 

The combined net worth of promoters of top listed firms was up Rs 1.33 trillion on Friday, which is 69 per cent of the Rs 1.94 trillion that they lost between June-end and September 19, 2019. Data also suggests that many billionaires are better off than on the eve of the Union Budget that was presented on July 5, 2019. 

Reliance Industries (RIL) Chairman Mukesh