Billionaire Gautam Adani got richer by Rs 39,000 crore this week after the market cap capitalisation of Adani Group rose by the same amount. It reached a valuation of about Rs 15.5 lakh crore, PTI reported. According to Forbes, the 62-year-old has a real-time net worth of USD 76.9 billion. He is the second-richest person in India after Mukesh Ambani, who holds the top spot. Currently, Adani is on the 21st spot on Forbes World's Billionaires' list.
Nine out of the 10 listed companies of Adani Group saw market cap climb in three days of trade on the back of strong financial and operating results, stock market data showed. Flagship Adani Enterprises Ltd added the most value by about Rs 23,268 crore, followed by Adani Ports & SEZ at Rs 9,440 crore. Adani Power Ltd was the only firm that saw market capitalisation drop.
Other group companies - power transmission firm Adani Energy Solutions Ltd, clean energy company Adani Green Energy Ltd, city gas distributor Adani Total Gas Ltd, commodities trader Adani Wilmar Ltd, media firm NDTV and cement companies ACC and Ambuja Cement rose in value.
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Adani Enterprises Ltd (AEL) and Adani Ports & SEZ Ltd (APSEZ) - two of the group's oldest companies - posted nearly an eight-fold and 37 per cent surge in net profit, respectively. Since the initial Hindenburg report in January 2023, Adani Group stocks have consistently defied negative predictions and political attacks. This resilience has been attributed to the group's strong performance and growth trajectory.
(With inputs from PTI)
