With his group of enterprises surpassing those under the Tata umbrella to become India’s most valuable conglomerate, Gautam Adani’s hot run on Dalal Street continues.
At Friday’s closing, the market value of the Adani Group’s whole portfolio of listed equities was Rs 22.27 trillion ($278 billion), surpassing that of Tata Group, which was valued at Rs 20.77 trillion ($260 billion). Reliance Group, which is run by Mukesh Ambani, is in third place with a market capitalization of Rs 17.16 trillion ($220 billion).
The market capitalization of the Ahmedabad-based group includes the nine publicly traded companies in the group, beginning with the Adani family, as well as Ambuja Cements and ACC.
In contrast, Tata Group includes 27 publicly traded firms, of which Tata Consultancy Services (TCS) accounts for 53% of the market capitalization of the conglomerate. Reliance Industries (RIL) makes up 98.5 percent of the Mukesh Ambani group’s market capitalization despite the fact that there are nine listed firms in the company.
With a market capitalization of Rs 16.91 trillion, RIL, a significant oil-to-telecom corporation, is also India’s most valuable company. TCS, India’s largest software exporter, comes next (market capitalization Rs 11 trillion). The wealth of the Adani Group is fairly distributed throughout its group companies, with Adani Transmission being the most valuable at Rs. 4.57 trillion, making up only a fifth of the market capitalization of the entire group.
Mukesh Ambani and Adani now have a 40% larger gap between them. Ambani is the eighth-richest person in the world, with a net worth of $91 billion.
