Gautam Adani witnessed a substantial surge in his net worth as the stocks of his firms rebounded significantly. Today’s trading session proved to be highly favorable for Adani, with all his company stocks experiencing positive movements.
Adani Enterprises, one of the flagship companies of the Adani Group, witnessed an astounding surge of over 18 percent. Additionally, Adani Ports, ACC, and Ambuja Cement recorded gains of 8.14 percent, 5.51 percent, and 6.56 percent respectively. The upward trajectory of these stocks not only boosted the confidence of investors but also had a direct impact on Adani’s net worth.
Stocks of many Adani firms lock in upper circuits
Furthermore, several other prominent firms under the Adani umbrella, including Adani Power, Adani Wilmar, Adani Green, Adani Transmission, NDTV, and Adani Total Gas, witnessed a surge in their share prices. These stocks were locked in their upper circuits at 1 pm, leading to a significant improvement in Adani’s net worth.
The substantial increase in Adani’s net worth, amounting to USD 4.6 billion, propelled him to become the top winner of the day among global billionaires. Presently, his total net worth stands at USD 51.1 billion.
Reason for rebound in Adani group stock prices
The rebound in Adani Group’s stocks can be attributed to the positive sentiment generated by the Supreme Court-appointed expert committee’s report. This report, released recently, stated that it could not conclude any regulatory failure pertaining to the Adani Group-Hindenburg case.
Investors found optimism in this finding, leading to a surge in share prices. The report’s publication on Friday initiated the upward trajectory, which continued today.
Mukesh Ambani continues to be India’s richest person
Despite the impressive surge in Gautam Adani’s net worth, Mukesh Ambani, the chairman of Reliance Industries Limited, continues to hold the title of India’s richest person. Ambani’s net worth is nearly twice that of Adani’s.
Currently ranked 13th on the global billionaire list, Ambani’s net worth stands at USD 87.5 billion.
Mukesh Ambani’s recent reclamation of the title as India’s wealthiest person came after the Hindenburg report leveled allegations against the Adani Group.
