The condition of these 10 companies of Mukesh Ambani is bad, all of them lost money in 2 years; Reliance also included in the list
Reliance Industries reported record revenue of ₹3.09 lakh crore in Q1 FY27, but shares of Mukesh Ambani's 10 listed companies have given negative returns to investors in the last two years. These also include shares of Reliance Industries.
Staff Editor 
Reliance Industries, led by Indian billionaire tycoon Mukesh Ambani, released its results for the first quarter of the 2026 fiscal year on Friday, July 17. The company's results were impressive. For the first time, Reliance recorded its highest-ever revenue, crossing the ₹3 lakh crore mark.
The company generated revenue of ₹3.09 lakh crore in Q1 FY27—marking a 5.1% increase compared to the previous quarter and a 26.6% rise year-on-year—driven by strong performance across its Oil-to-Chemicals (O2C), Oil & Gas, and Digital Services businesses.
Despite Reliance's stellar results, the stock market performance of Mukesh Ambani's listed companies has been dismal. Over the past two years, all these companies have eroded investor wealth. Let us look at which of Ambani's 10 companies have delivered negative returns during this period.
10 of Ambani's companies delivered negative returns.
| Company Name | How much did it break down in two years? | Share price | Market Cap |
| Reliance Industries | −17.7% | ₹1,327.2030.60 | ₹17,95,090.77 Ten million |
| Reliance Industrial Infrastructure | −42.2% | ₹779.15-2.30 | ₹1,175.38 Ten million |
| Justdial | −23.4% | ₹767.30-26.05 | ₹6,535.17 Ten million |
| Jio Financial Services | −31.5% | ₹242.987.33 | ₹1,60,456.34 Ten million |
| Sterling and Wilson Renewable Energy | -68.20% | ₹222.191.41 | ₹5,192.79 Ten million |
| GTPL Hathway | -62.60% | ₹63.39-0.04 | ₹711.44 Ten million |
| Network18 Media & Investments | −63.8% | ₹30.00-0.31 | ₹4,629.08 Ten million |
| DEN Networks | −48.2% | ₹27.32-0.89 | ₹1,302.34 Ten million |
| Hathway Cable & Datacom | −55.5% | ₹11.06-0.02 | ₹1,954.20 Ten million |
| Infomedia Press | −19.0% | ₹5.53 | ₹26.95 Ten million |
| Source - Angel One | |||
How is Ambani's flagship company faring?
Mukesh Ambani's Reliance Industries is India's largest company by market capitalization. Yet, shares of 10 of his key companies have yielded negative returns for investors over the last two years.
While Reliance Industries' stock has delivered a return of 25.81% over the past five years, it has lacked momentum recently. The stock has fallen by up to 17% over the last two years. In the past year alone, it has dropped by approximately 10%, and year-to-date, Reliance Industries' shares have declined by 15.66%.
