Reliance and ONGC have faced a bloodbath since morning with their share prices taking a huge fall 📉
And it’s all because of one of their main products: Oil 🛢️
#Reliance saw a fall in their share price because the government imposed an export duty of ₹6 per litre on petrol & aviation fuel and ₹13 per litre on diesel 💸
This is so that the government can benefit from the rising exports 💰
Akash Ambani appointed chairman as #MukeshAmbani steps down 🪜
Planned succession move or impulsive decision?
A thread🧵
Akash Ambani has been appointed as the chairman of the board at #RelianceJio, following the resignation of Mukesh Ambani, signalling a transition in leadership 🫡
According to report, Isha Ambani is also set to become the chairman of the #Reliance conglomerate’s retail unit 🛒
Succession plan?
Mukesh Ambani has studied the ways in which billionaire families pass on the baton to the next generation 🔑
He is finally taking the steps necessary to bring new and fresh perspectives into India’s largest conglomerate 🇮🇳