March 20, 2023

Adani will soon return to the top 20 richest list, just a few steps away. Gautam Adani makes it to the top 20 billionaires list as his wealth has grown by $17.7 billion since February 27.

Gautam Adani’s wealth made a spectacular comeback from a low of $37.7 billion on February 27, driven by sharp recovery in Adani Group shares Adani Enterprises, Adani Green Energy, Adani Power, Adani Transmission and Adani Total Gas.

Adani Group Its founder and chairman Gautam Adani It added $17.70 billion to its total value as of February 27. Which brought him closer to the list of top 20 billionaires globally. Currently, 66-year-old Adani’s net worth has reached $55.40 billion. He now ranks 21st on the Bloomberg Billionaires List. If Adani were to reach the top 20, it would need about $5 billion.

Gautam Adani’s wealth made a spectacular comeback from a low of $37.7 billion on February 27, driven by sharp recovery in Adani Group shares Adani Enterprises, Adani Green Energy, Adani Power, Adani Transmission and Adani Total Gas. Adani group companies have climbed 31 percent in the last five days. Adani Group has taken several steps to address investors’ concerns, due to which shares of Adani Group companies have risen.

Performance of Adani Company in last five sessions

In the last five sessions, shares of Adani Enterprises have gained 30.77 percent. Adani Total Gas rose 28.36 percent in the last five trading days. Adani Green Energy gained 21.54 percent and Adani Power rose 19.32 percent during the same period. Adani Transmission has gained 21.84 percent in last five days. Adani Wilmar rose 21 percent and Adani Ports & SEZ rose 17 percent during the same period. NDTV, ACC and Ambuja Cement also gained up to 22 percent in the last five sessions.

How was the performance of Adani companies today?

Company Name fall or rise
Adani Enterprises -0.81%
Adani Port and SEZ 0.37%
Adani Power 3.42%
Adani Transmission 5%
Adani Green Energy 5%
Adani Total Gas 4.99%
Adani Wilmer -1.59%
ACC LIMITED -0.30%
Ambuja Cement -0.97%
NDTV -3.03% -3.03%

Why has Adani’s share increased?

The group said it has paid a share-based payment of Rs 7,374 crore after the Adani shares were recently restored and will repay all remaining debt by the end of the month. Apart from this, SB Adani Family Trust recently sold its stake in four Adani Group companies to US-based GQG Partners for Rs 15,446 crore. In addition, the group has held more road shows to boost investor confidence, following the Hindenburg Research report on January 24, which recently pegged the group’s market cap at $150 billion.

Adani’s total assets stood at $150 billion in September

Adani’s total assets alone stood at $150 billion in September last year. But since then the group’s shares have been on a downward trend. A report by Hindenburg Research on January 24, however, triggered a sell-off in Adani Group shares, as it alleged financial fraud and stock manipulation at group companies. Recently, the Supreme Court directed the market regulator SEBI to conduct an inquiry to find out whether the group violated market norms.

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