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Gautam Adani loses $11 billion in an hour as crisis hits group stocks

Adani stocks value drops by $7.3 billion after reports of FII a/c freeze
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Synopsis
Monday’s selloff had eroded as much as $15 billion from the group s market capitalization was eroded when the stocks hit their day’s lows just after the Opening Bell.
As on Friday, Gautam Adani’s personal wealth stood at $77 billion, according to the Bloomberg Billionaires’ Index.
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MUMBAI: Gautam Adani, the promoter of the Adani Group of companies and the second richest man in the country, saw his notional wealth erode by as much as $10 billion within an hour of the Opening Bell on Dalal Street on Monday following reports that NSDL had frozen the accounts of three foreign portfolio investors, which held large stakes in the group companies. ....

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Will Adani beat Ambani to become richest Indian? Umm...did you count Jio?

Will Adani beat Ambani to become richest Indian? Umm.did you count Jio?
Ambani might be smarting on account of a held-up deal with Saudi Aramco and a legal tussle over acquisition of Future Retail, but he still holds two assets that can put him on top in this wealth race
Vivek Punj | May 25, 2021 | Updated 18:51 IST
Adani has raised his wealth rapidly, but Ambani still has an ace up his sleeve
Mukesh Dhirubhai Ambani and Gautam Shantilal Adani - two ubiquitous names in India Inc, and currently the first and second richest Indians.
Mukesh Ambani, who is at the helm of India s most valuable company Reliance Industries, has held the position of the richest Indian for a long time. But, Gautam Adani has closed the gap rapidly with rising valuations of his companies listed on stock exchanges. ....

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Gautam Adani and Mukesh Ambani cumulatively lost nearly $7 billion as the markets plunged

Gautam Adani and Mukesh Ambani cumulatively lost nearly $7 billion as the markets plunged
Prabhjote GillApr 13, 2021, 09:48 IST
Indian billionaires Gautam Adani (left) and Mukesh Ambani (right)BCCL/BI India
As the Indian markets went for a nose dive, billionaires Gautam Adani and Mukesh Ambani cumulatively saw a nearly $7 billion fall in their net worth.
Adani lost $4.2 billion in the face of all of his companies tracking in the red on April 12.
Ambani lost $2.7 billion and Reliance Industries was one of the key companies dragging the market down.Two of the richest men in India, Gautam Adani and Mukesh Ambani, saw $7 billion of their wealth wiped out as the Indian stock exchanges went for a dive on April 12. The Sensex crashed over 1,700 points while the Nifty 50 closed 3.53% lower from where it began the day. ....

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'How much did your wealth increase in 2020?': Rahul Gandhi takes dig at Adani's 50% wealth surge

Updated Mar 13, 2021 | 17:59 IST
The Congress leader s remarks have come after the news report said that Gautam Adani added USD 16.2 billion to his wealth in 2020.
Congress leader Rahul Gandhi | Photo Credit: PTI
Key Highlights
Gautam Adani has beaten Amazon founder and CEO Jeff Bezos and Tesla CEO Elon Musk in terms of wealth surge this year
Adani s net worth now stands at USD 50 billion
New Delhi: Congress leader Rahul Gandhi on Saturday took a dig at industrialist Gautam Adani s wealth surge this year and questioned how is he making money when everyone else has been struggling with the COVID-19 pandemic. ....

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Gautam Adani I 'Have not to have much'—Adani's journey from college dropout to topper of 2021 batch of global money spinners

Updated Mar 13, 2021 | 07:37 IST
The story of Adani Enterprises chairman Gautam Adani is exactly what makes the idea of free-market capitalism so damn lucrative it works for those who truly believe in it.
Adani Group chairman Gautam Adani | Photo Credit: IANS
Gautam Adani, chairman of Adani Group, added ports, airports, data centres, solar PV manufacturing, power & coal generation capacity and more to assets either owned or directly managed by group companies and this was just 2020 and 2021.
Earlier this month Adani Enterprises, the flagship company of the power-to-port conglomerate, became the third group company to join the elite Rs 1-trillion market capitalisation (market-cap) league. Five out of the group’s six publicly traded companies are now firmly saddled in the top 100 most-valued Indian companies (by market cap). Two out of these, Adani Green Energy (Rs 1.81 trillion) and Adani Ports and SEZ Ltd (Rs 1.47 trillion), ....

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