From Pony Ma to Jack Ma, the Rich Win Big With Wild H.K. Stocks
Bloomberg 1/26/2021 Venus Feng
(Bloomberg) Pony Ma got $6.9 billion richer on Monday after one of the companies his Tencent Holdings Ltd. backs revealed its IPO plans, while Jack Ma’s public reappearance Wednesday added $1.6 billion to his net worth.
Even though the Hong Kong market has proved particularly volatile lately the benchmark Hang Seng Index gave up all of of its Monday gain on Tuesday it’s been one of the world’s highlights this month.
Tencent and Alibaba Group Holding Ltd., along with food-delivery giant Meituan and carmaker Geely Automobile Holdings Ltd., were among the stocks helping propel the rally. Their top executives have made a combined $32 billion this month through Monday, and they’re not the only ones benefiting, according to the Bloomberg Billionaires Index.
Adani Green Energy Ltd (AGEL) arm Adani Solar Energy Kutchh One Ltd has commissioned a 150 MW solar plant in Kutchh, Gujarat. The company in a statement said that despite all the challenges of global pandemic COVID-19, unprecedented rain and flood in Kutchh, the team of experts made it possible to commission the project three months prior to its scheduled commissioning date. This plant has a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL) at Rs 2.67/kWh for a period of 25 years. With this commissioning, AGEL s total operational renewable capacity grows to 3,125 MW. AGEL has total renewable capacity of 14,795 MW, including 11,670 MW awarded and under implementation projects.
Read more about Top India stock fund shuns trash value rally ahead of vaccine rollout on Business Standard. The $1.8 billion UTI Equity Fund managed by him has returned 26% this year to be the top performer among Indian stock funds with at least $1 billion in assets