Gautam Adani to 15th Spot Among World's Wealthiest with $12 Billion Surge in Net Worth

By siliconindia  |  Wednesday, 06 December 2023, 04:05:52 PM IST

Gautam Adani to 15th Spot Among World's Wealthiest with $12 Billion Surge in Net Worth
Adani Group Chairman, Gautam Adani, Claims 15th Spot Among World's Wealthiest, Adds Over $12 Billion in Adani Group Stocks Rally. Adani reentered the top 20 global rich list in November, propelled by the surge in Adani Group stocks. With a current net worth of $82.5 billion, Adani's wealth skyrocketed by more than $12 billion due to the recent rally in his company's stocks.
Adani Group market cap hit an 11-month high, reaching Rs 13.8 lakh crore in mcap in trade. The Adani conglomerate clinched its best-ever single-day market performance adding Rs 1.92 lakh crore in one day gains. strong gains also come on the heels of reports indicating that the US International Development Finance Corp (DFC) did not find the allegations of corporate fraud by short-seller Hindenburg Research relevant. Before extending a significant loan to the conglomerate for a port project in Sri Lanka, the DFC reportedly conducted a thorough examination of the claims against the Adani Group.
All 10 stocks in the Adani group clocked gains ranging from 7-20 per cent with Adani Green Energy and Adani Energy Solutions hitting gains of 20 per cent. The Group's flagship company Adani Enterprises Ltd (AEL) saw a staggering rise in its share price by 16.91 per cent, increasing its market valuation by a substantial Rs 48,809 crore. Adani Ports and Special Economic Zone (APSEZ) also performed solidly with a 15.3 per cent gain in share price, contributing Rs 29,043 crore to the market cap.
Adani Energy Solutions and Adani Green Energy Solutions witnessed a notable surge of 20% each, contributing over Rs 55,600 crore to the group's overall market capitalization. Similarly, Adani Power Ltd (APL) and Adani Total Gas Limited (ATGL) experienced gains of 15.81% and 19.88%, respectively.
Source: IANS

ON THE DECK

siliconindia