Adani Becomes India’s 3rd Largest Corporate Group; Crosses $100 Billion M-Cap
Adani Group, owned by Gautam Adani, has now become India’s third group to cross $ 100 billion in market capitalization.
The first two companies that have previously set this record are Tata Group and Reliance Industries Ltd.
Adani Group Becomes 3rd Largest Corporate Group; Surpasses $100 Billion Market Cap
Gautam Adani’s ports-to-energy conglomerate now becomes the third group to surpass $ 100 billion in market capitalization. The shares of four of its six listed companies have gone up to an all time high. As per the stock exchange data, the total market cap of the six listed companies was Rs 7.84 lakh crore or $ 106.8 billion on Tuesday.
In the year 2021, the wealth of Gautam Adani rose to an astonishing $ 50 billion from $ 16.2 billion. Against Adani’s $ 34 billion growth this year, the wealth of Mukesh Ambani grew by $ 8.1 billion. With such a wealth surge, the likes of Elon Musk and Jeff Bezos have been left behind.
Adani Power Ltd is worth USD2 billion, Adani Transmission Ltd is worth USD6 billion, Adani Enterprises Ltd is worth USD8 billion, Adani Total Gas Ltd. is worth USD8 billion, Adani Green Energy Ltd is worth USD18 billion, and Adani Ports and SEZ Ltd is worth USD9 billion.
He saw his wealth almost doubling to $32 billion in 2020. With that gain, he has climbed 20 places to be the 48th richest person globally and became the second wealthiest man in India. Similarly, his brother Vinod’s wealth also grew by 128 percent to $9.8 billion. The report compiles individual or family wealth in the year to January 15.
In the last two years, the Adani group is now in control of seven airports and almost a quarter of India’s air traffic. Additionally, the government has awarded the airports of Lucknow, Ahmedabad, Thiruvananthapuram, Guwahati, Jaipur, and Mangalore to Adani Group, as part of the first round of the divestment process which kickstarted in 2018.
Four Of Six Companies Of Adani Group Touch A Record High In Market Capitalization
As per the data by BSE, Adani Enterprises closed at Rs. 1,225.55 on the BSE on Tuesday, which is an all time high. It also is an increase by 7.67 as compared to the previous day’s shares. In addition to that, Adani Total Gas also breached a record high of Rs 1,248 before closing at Rs 1,204.35, while Adani Transmission saw a spike of 5 per cent to Rs 1,147 before settling at Rs 1,109.90.
Adani Ports has seen an increase of 12.84 per cent and closed at an all-time high of Rs 837.45. Adani Power’s shares increased 5 per cent to Rs 98.40, while Adani Green Energy gained 2.2 per cent to Rs 1,194.55.
The only firms of Adani group that didnt touch a record high are Adani Green and Adani Power