For A Day, Adani Green Energy Had Beaten SBI In Market Valuation! Find Out How?

Adani Green Energy had jumped up to the seventh position on the BSE and NSE. In fact, the company has replaced the State Bank of India to be in the seventh position.

The first position has been taken by Reliance Industries, as always.

Adani Green Energy Replaced SBI on BSE, NSE; Took Seventh Position

On Monday, the shares of the company rose by around 4 percent and stood at Rs. 2.968.10 apiece. This makes the market valuation of the company Rs 4,64,215.08 crore.

Whereas, the country’s largest lender State Bank of India’s market capitalization stands at Rs 4,54,619.71 crore.

Adani Green is also the non-Sensex company to make it to the top 10 list of the BSE in terms of market valuation. 

On the top position is Reliance Industries, followed by TCS, HDFC Bank, Infosys, ICICI Bank, HUL, Adani Green Energy, SBI, Bajaj Finance, and HDFC.

We recently reported that Industrial mogul and the chairperson of the multinational conglomerate Adani Group, Gautam Adani is now the sixth richest person in the world, while the former richest Indian Mukesh Ambani now ranks as the 11th richest person in the world.

Gautam Adani Becomes Biggest Wealth Gainer

According to the latest ranking released by Bloomberg, not only has Gautam Adani swiftly climbed the list of richest people in the world but also is the biggest wealth-gainer in 2022.

Last year, Gautam Adani’s ports-to-energy conglomerate became 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.

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.

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.