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NEW DELHI: Industrialist Gautam Adani has added more billions to his personal wealth in 2021 than 19 other Indian billionaires together!
Among the 20 Indian billionaires on Bloomberg Billionaire Index, Adani s fortunes have risen by $35.2 billion in 2021 so far, compared with a $24.5 billion addition in the combined wealth of 19 other Indian billionaires.
Worth $69 billion as of today, Adani is trailing the richest Indian Mukesh Ambani ($77 billion) by only a few billions now.
Other than Adani, eight other Indian billionaires have added $1 billion or more to their personal wealth in 2021. They are Wipro s Azim Premji, whose wealth increased by $6.07 billion to $31.40 billion. Savitri Jindal of OP Jindal group added $4 billion to her wealth, while Lakshmi Mittal added $3.93 billion. Kumar Birla s wealth jumped by $3.25 billion to $10.1 billion. Others included Dilip Shanghvi of Sun Pharma (1.66 billion), Radhakishan Damani of DMart ($1.6 billion), Pankaj Patel of Cadi
The food and grocery retailer, which runs the DMart chain of stores, bounced back in the second half of last financial year after a major hit from the Covid-19 lockdown in the first.
Time to slash stamp duty
The Damani property deal must lead to a rethink
In one of the biggest property deals, DMart founder Radhakishan Damani and his brother, Gopikishan,bought an independent house in Mumbai’s posh Malabar Hill area for a whopping ₹1,001 crore. They had a deadline to beat March 31, 2021. To raise revenue collections, the Maharashtra government had reduced the stamp duty on August 26, 2020 on property to 2 per cent till December 31, 2020 and then to 3 per cent till March 31, 2021.
The Damani brothers paid ₹30 crore in stamp duty (at 3 per cent) for the 5,752 sq m land that has a built-up area of 60,000 sq ft.
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NEW DELHI: The recent surge in Covid-19 cases has shaken up the stock market, forcing investors to hunt for proxy plays and beneficiaries of the pandemic situation.
One such name is logistics services provider
Blue Dart Express. The stock has trebled price in the past three quarters, and scaled a new 52-week high of Rs 5,847 on March 31, 2021, rising from Rs 1,860 in July 2020. It hovered around Rs 5,355 level on Thursday.
The first wave of the Covid-19 pandemic caused disruption to a number of industries, but the logistics and delivery business flourished. Among them, Blue Dart weathered all the challenges and continued to ensure service delivery to customers. The opening up of the economy worked well for the company.
New Delhi: A surge in Covid-19 second wave in the country has led to the suspension of the ongoing edition of Indian Premier League (IPL). The cricket tournament has been postponed indefinitely, as at least half a dozen players and support staff from different franchises have tested Covid positive.
After the developments in the last few hours, unlisted shares of IPL franchise Chennai Super Kings (CSK) have nosedived some 30-odd per cent. The unlisted scrip was available at Rs 60-62 in off-market trade on Tuesday down from Rs 82-85 in mid-April, when the tournament had started.
Dealers of pre-IPO market said the kneejerk reaction was on the expected lines.