: After the negative report of the American short selling company Hindenburg Research (Hindenburg Research) came to the fore, the Adani Group (Adani Group) fell into extreme trouble. Even, the share price of the companies included in that group started falling by leaps and bounds. In the last 10 business days, the group has been devastated. Meanwhile, the market cap also halved as share prices of group companies fell.
Most notably, Indian billionaire Gautam Adani’s net worth also dropped to just $58 billion. However, the fallout that started after the report came out on January 24 seems to have subsided. Already on last Tuesday i.e. February 7, Adani Group’s shares have seen some upward movement. Not only that, the shares of Adani Enterprises have practically doubled in two days.
Shares of Adani Enterprises also opened with a strong gain on Wednesday. The stock crossed the Rs 1,987 level as the market opened. Even so, most of Adani Group’s shares remain bullish. Meanwhile, Gautam Adani’s personal wealth is also increasing as the share price rises. It is also reported that in two days, Adani’s total assets have increased from $58 billion to $64.9 billion.
Adani Returns to Top 20 in Rich List: Gautam Adani’s wealth is increasing every moment in Forbes Real Time Billionaires list. Gautam Adani’s net worth has increased to $64.9 billion as of the time of writing this report. Adani’s assets rose by 7.31 percent in just three hours. Gautam Adani’s net worth increased by $4.3 billion as of 12:30 PM on February 8. That is, in a few hours his wealth has increased by 3,55,46,61,65,000 rupees. As Adani’s personal wealth grew, he also returned to the top 20 on Forbes’ list of real-time billionaires. Currently, Adani is at the 17th position. Right before him is Mark Zuckerberg.
Shares of Adani also saw a rise: The shares of Adani group companies have already seen a huge rise. Shares of Adani Enterprises crossed the Rs 2,036 level with a 13 percent gain. On the other hand, shares of Adani Transmission Ltd rose over 5 percent to over Rs 1,314. Also, shares of Adani Port rose by 7.6 percent. Basically, all shares of the Adani Group, barring shares of Adani Green Energy and Total Gas, were reported to be higher on Wednesday.