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Meet man who lost Rs 46485 crore in one day, still has Rs 340793 crore net worth, he is India's most...
The loss comes after the company's December quarter earnings failed to cheer investors.
Updated : Jan 15, 2025, 06:05 AM IST
 "Meet man who lost Rs 46485 crore in one day, still has Rs 340793 crore net worth, he is India's most...")
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India is a country of several billionaires including Mukesh Ambani and Gautam Adani. They often donate massive amounts for various causes. Such billionaires are India's top companies in different fields like IT, ports and telecom. However, many times they suffered a loss in just a couple of hours due to various reasons. On Tuesday, one Indian billionaire lost Rs 46,485 crore after his company's shares tumbled by 9 per cent. His name is Shiv Nadar, owner of IT firm HCL Tech.
The reduction in the market cap of HCL Tech comes after the company's December quarter earnings failed to cheer investors. The stock slumped 8.63 per cent to settle at Rs 1,813.95 apiece on the BSE. The stock emerged as the biggest laggard among the BSE Sensex and NSE Nifty firms. During the day, it tanked 9.41 per cent to Rs 1,798.40. On the NSE, it dropped 8.51 per cent to Rs 1,819.95 per share. The market valuation of the IT firm has now been reduced to Rs 4,92,245.28 crore as of January 14, PTI reported.
However, despite such a huge reduction in HCL's mcap, the Indian IT pioneer, Shiv Nadar, has a real-time net worth of USD 39.4 billion (Rs 340793 crore), as per Forbes. His company is among India's largest software services providers.
Not just that, the HCL founder is India's most generous philanthropist. The 79-year-old tech magnate donated Rs 2,153 crore in FY 2024, which means Rs 5.9 crore every single day, according to the EdelGive-Hurun India Philanthropy List 2024 released in November 2024. Nadar has retained this position as India’s most generous philanthropist for the third time in five years.
