Saturday, March 25th, 2023 08:04:35

Re-emergence of Adani; An increase of $11 billion in assets

Updated: March 3, 2023 6:15 pm

After the release of the Hindenburg Research Report, there was a tremendous decline in the shares of Adani Group companies. The effect of this was that Adani fell to number 37 in the list of billionaires. But now for the last few days, it seems that Adani’s good days have returned again. The stock of his companies has been seeing a continuous rise for four days. Not only this, in the shares of many companies, the upper circuit is being seen as soon as it opens. After the rapid recovery in the shares, the market cap has climbed above one lakh crore.

Gautam Adani has also climbed to the 26th position in the list of billionaires around the world. In the last few days, his wealth has increased by $11 billion. It is noteworthy that after the Hindenburg report, Adani’s net worth had declined by up to $ 31 billion. Due to the rise in shares, Gautam Adani is at number 26 in Forbes’ Real Time Billionaire list. He also remains at number 1 in today’s list of winners and losers.

Gautam Adani’s wealth has increased by $ 5.1 billion on March 3 in the Forbes list of winners and losers. After him, Bernard Arnault’s property has gained $ 3.6 billion and Japan’s Tadashi Yanai has gained $ 1.7 billion. He was on top of this list on March 2 as well. Today, within 2 hours of opening of the market, Gautam Adani had earned a bumper of $4.8 billion. Due to the rise in the stock of Gautam Adani, he has reached from number 37 to number 26 in the list of billionaires around the world.

Notably, Adani Group has sold minority stake in four of its listed companies to American company GQG Partners for Rs 15,446 crore. Actually, the group has to repay a debt of more than two billion dollars in the coming months. That’s why this deal has been done due to the need for cash. Adani Group has a total loan of Rs 2.21 lakh crore, of which about 8 per cent is to be repaid by the end of the next financial year.

Posted By Uday India

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