Adani Group becomes 3rd Indian union to cross $100 billion in market capital

Adani Group becomes 3rd Indian union to cross $100 billion in market capital

Adani Group becomes 3rd Indian union to cross $100 billion in market capital

M-cap: Billionaire Gautam Adani’s ports-to-energy union has become India’s third group to cross USD 100 billion in the market. Union shares of four of its six listed companies soaring to an all-time high on Tuesday.

Moreover, the total market cap of Adani Group’s six listed companies at the close of trading on Tuesday was Rs. 7.84 lakh crore or USD 106.8 billion, as per stock exchange data.

Adani Group is the third Indian conglomerate to cross the USD 100 billion market cap mark after Tata Group and Reliance Industries Ltd. While starting out as a commodities trader in the late 1980s. Gautam Adani has over two decades of building an empire that now spans from mines, ports and power plants to airports, data centre, city gas and defence.

On the other side, last two years his group has gained control of seven airports and almost a quarter of India’s air traffic, made rapid strides in renewable energy capacity addition. But won a contract to co-develop a port terminal in Sri Lanka and bought ports in India. The group has acquired a stake in Gangavaram port, commissioned a wind power plant in Gujarat, discovered natural gas reserves off the Mumbai coast, acquired solar projects.

While it bought a power transmission project from Essel Infraprojects and signed a pact to develop 1 gigawatt of data centre capacity in India. Adani Ports controls 30 percent of the nation’s port industry and has a French energy giant. As a partner in its renewable energy and city gas distribution business.

Adani Stakes:

Adani Green is targeting 25 gigawatts of renewable capacity by 2025. According to BSE data, Adani Enterprises closed at an all-time high of Rs. 1,225.55 on the BSE on Tuesday and up 7.67 percent over the previous day’s close. Adani Total Gas touched a record high of Rs. 1,248 before closing at Rs. 1,204.35.

While Adani Transmission jumped 5 percent to Rs. 1,147 before settling at Rs. 1,109.90. Adani Ports gained 12.84 percent to end at an all-time high of Rs. 837.45 and Adani Power rose 5 percent to Rs. 98.40, while Adani Green Energy gained 2.2 percent to Rs. 1,194.55. Except for Adani Green and Adani Power, the shares of other listed firms touched a record high.

Tata Group’s current market cap is around USD 242 billion. However, the RIL m-cap is at USD 171 billion and Five of the Adani Group firms have a market cap of over Rs. 1 lakh crore. While one Adani Power has an m-cap of Rs. 37,952.28 crore.

1 thought on “Adani Group becomes 3rd Indian union to cross $100 billion in market capital

Leave a Reply

Your email address will not be published. Required fields are marked *