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Another significant change occurred in 2022. That is, in terms of market-cap, the Adani group has moved to the second place, displacing the Ambani group. Adani Group had a market-cap of Rs 9.62 trillion as of December 2021. It has more than doubled there in December 2022. Adani Group’s market-cap is Rs 19.66 trillion as of December 2022.
On the contrary, the market-cap of the Ambani group has increased. The Ambani group had a market cap of Rs 16.4 trillion as of December 2021. There it increased to Rs 17.54 trillion in December 2022. The growth rate is 6.9%. However, the family business group’s market-cap declined by 3.5%. The only exception is the Adani group. Profitability of family business groups was 46.4% in 2021. A total of 7 out of the 10 largest groups in the country have a market-cap decline in 2022.
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Meanwhile, the stock price of Adani Group is doing well in the Indian stock market. It was joined by the acquisition of Ambuja, ACC Cement and NDTV. Moreover, Adani Wilmar’s IPO in February 2022 also boosted the group’s market cap. While acquisitions of Ambuja, ACC and NDTV added Rs 1.5 trillion to the group’s market cap, Adani Wilmar brought in another Rs 80,000 crore from the market.