Since January, Adani Group’s market value has shot up Rs 7.05 lakh crore and Reliance has added Rs 2.87 lakh crore as against the Rs 5.5 lakh crore erosion in India’s total market capitalisation. The market value of most other groups and large companies such as the Tatas, HDFC, Infosys, Wipro, L&T, HCL, Mahindra, and Godrej, have eroded since January.
Getty ImagesThe surge in market value of Adani Group companies has helped promoter Gautam Adani overtake legendary Wall Street investor Warren Buffett as the world’s fifth-richest person.
The market values of Reliance Industries and Adani Group — two of India’s largest business groups — have soared so far in 2022, undeterred by the wild ride in domestic equities this year.
Since January, Adani Group’s market value has shot up Rs 7.05 lakh crore and Reliance has added Rs 2.87 lakh crore as against the Rs 5.5 lakh crore erosion in India’s total market capitalisation. The market value of most other groups and large companies such as the Tatas, HDFC, Infosys, Wipro, L&T, HCL, Mahindra, and Godrej, have eroded since January.
The surge in market value of Adani Group companies has helped promoter Gautam Adani overtake legendary Wall Street investor Warren Buffett as the world’s fifth-richest person.
Agencies
Adani Group’s total market cap is Rs 17 lakh crore, while Reliance remains India’s most valuable company at Rs 19.33 lakh crore. Meanwhile, the market cap of Reliance hit $250 billion on Wednesday. The energy-to-telecom conglomerate is more valuable than global giants such as PepsiCo, Alibaba, Walt Disney, Novartis, and Merck. Tata Group, however, remains the biggest domestic group with market value at Rs 22.72 lakh crore
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