Gautam Adani is on a record-breaking spree. Within 3 months of 2021, his wealth has surged to $59.5 billion from $16.2 billion in 2020. No other person in the world has added this much wealth in 2021. Business giants like Mukesh Ambani, Elon Musk, and Jeff Bezos are nowhere near to his 2021 wealth surge.
Adani Group has also entered in $100 billion market capitalisation group in India. This is the third business group in India that has a market value of more than $100 billion. It all happened due to the exponential surge in the shares of four of Adani Group’s six list companies in the share market on Tuesday.
How Adani Group is Recording Exponential Growth?
As per the stock exchange data, Adani group’s six listed companies saw a surge in its value to $106.8 billion. Earlier, Tata group and Reliance Industries are the other two business groups that have crossed the $100 billion marks.
Adani started its business as a commodities trader in the 1980s. In the last twenty years, he has expanded his business to mines, ports, and power plants, Airports, Gases etc. In recent years, he has grabbed so many important projects including airports, and mines business.
In 2 years, he has taken control of India’s seven major airports that handle 25% of Indian air traffic. Another latest achievement by Adani Group is the contractual agreement with the Sri Lanka government to build the port terminal. He has also bought few ports in India. Other than this, his group is showing positive progress in the field of renewable energy.
Last month, Adani Group signed a deal to acquire a stake in Gangavaram port, a power plant in Gujrat, Mumbai coast natural gas discovery, solar projects etc. The firm also took control of Essel Infraprojects’ Power Transmission project. Adani group is building one of the largest data centres in India with 1 gigawatts capacity.
As per the latest data, the Adani group controls 30% of Indian ports. It has collaborated with French Energy firm Total for a renewable energy project. Both firms also have a tie-up for a gas distribution project. Adani Green, Adani Group company related to renewable energy, targets 25 gigawatts of renewable capacity by 2025.
Share Market Status of Adani Group
As per the Bombay Stock Exchange report, Adani Enterprises share saw a jump of 7.67% to close on a value of Rs 1225.55 on Tuesday. Adani Total Gas share value reached a record high of Rs. 1248. Finally, the share was closed on a value of Rs 1204.35 on Tuesday. Adani Transmission also saw a 5% surge in its share value to Rs 1147. In the end, it closed at Rs 1109.90.
Adani Ports saw a maximum surge among all Adani Group shares. It surged to Rs 837.45 with a total of 12.84% increment. Adani Power closed at Rs 98.40 with a 5% gain on Tuesday. Adani Green Energy also recorded a 2.2% gain to close at Rs 1194.55.
As per the consolidated data of Adani Group shares, all companies share reached a record high value on Tuesday except Adani Green and Adani Power.
If we talk about the top three Indian Business giants’ market cap, the Tata group ranks first with a total valuation of $242 billion. Reliance occupies second place with a total market cap of $171 billion, whereas, Adani Group is the new entry in the $100 billion market cap group.
Five of Adani Group firms have at least a market cap of Rs 1 lakh crore. Adani power is the only firm having a market cap of Rs 37, 952.28 crores.
If Adani Group keeps growing with this speed, it will very soon leave Reliance Industries behind in terms of total market cap.