From loser to top winner: Adani’s net worth spikes as stocks rise sharply

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Gautam Adani once again began climbing up on the world’s billionaire list as his net worth spiked following the sharp rise in his companies’ stocks. Today, he emerged as the top winner on the world’s rich list.

The businessman who recently slipped out of the world’s top 35 billionaires list is currently at the 32nd spot. His current net worth is USD 37 billion.

As of now, all of the Adani Group stocks are trading in green. The highest surge is seen in Adani Enterprises shares which are up by over 12 percent.

All Adani Group companies’ stocks trade in green

The stocks of Adani Group companies that were bleeding for the past few days due to the Hindenburg research report are now witnessing a reversal as all of them are trading in green.

Apart from Adani Enterprises, Adani Green, Adani Power, Adani Transmission, and NDTV stocks are seeing a more than four percent hike.

The stocks of other Adani Companies such as Adani Ports, ACC, Ambuja Cements, Adani Total Gas Limited are also trading in green.

Adani Total Gas shares rise

Adani Total Gas stocks that were locked in its lower circuit in the past 23 out of 24 sessions are finally trading in green.

It was the most hardly hit company following the report against the Adani group. Till yesterday, it lost 82.5 percent in 24 sessions.

After being locked in its lower circuit for many sessions, today it is trading in green. It jumped by over three percent.

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Stocks of Adani Group companies at 11 am today

From top loser to winner in the billionaire list

Adani who has emerged as the top loser sees rise in net worth today. In one day today, his net worth surged by USD 2.2 billion.

Today’s top five winners

NameCurrent net worth (in billion USD)Change in net worth (in million USD)Change in net worth (in percentage)Country
Gautam Adani37+3700+11.08India
Mark Zuckerberg62.8+3090+3.09US
Ma Huateng38.4+1300+3.49China
Andrew Forrest20.3+991+5.13Australia
Robin Zeng34+944+2.86Hong Kong

Today’s top five losers

NameCurrent net worth (in billion USD)Change in net worth (in million USD)Change in net worth (in percentage)Country
Bernard Arnault206-1500-0.7France
Mukesh Ambani82.9-1200-1.46India
Elon Musk196.5-1200-0.63US
Larry Ellison112.3-692-0.61US
Mikhail Fridman13.5-639-4.52Russia

Reason for rebound in Adani group stock prices

Adani Group’s stocks rebounded on Tuesday after reports surfaced that Gautam Adani plans to repay or prepay share-backed loans worth USD 690 million to USD 790 million by the end of March.

The move aims to improve the conglomerate’s credit profile.

Earlier, despite the group’s denial of all allegations made by Hindenburg Research, a massive dip in stocks’ values was witnessed.

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( With inputs from www.siasat.com )

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