Adani Enterprises Ltd. has spun off several units into the public market but the list of shareholders that have risen 200% to 900% in value in the past year need some explaining.
The dramatic rout marks a halt to the dizzying rally in shares of some of the Adani Group companies that had added almost $40 billion to the billionaire’s wealth this year.
Shares of six Adani Group companies crashed Monday wiping out more than $6 billion of the companies’ market capitalisation and bringing down Gautam Adani’s net worth.
Adani Total Gas, Adani Power & Adani Transmission all fell by their 5% daily limit Tuesday after Adani group said the 3 funds were facing suspension due to a years-old regulatory order.
The funds own more than 435 billion rupees ($6 billion) in four Adani group firms, the report said, adding that the frozen accounts won’t be able to sell or buy new securities.
Adani's net worth saw a rapid surge in 2021, beating the gains for Warren Buffett and Mukesh Ambani. This included a 330% jump in Adani Total Gas and a 235% rise Adani Enterprises.
The partnership marks the entry of Adani into the three-way fight for domination of India’s online shopping space. Up against the Walmart-Adani alliance is Amazon & Reliance Industries.
According to Forbes World’s Billionaires list 2021, number of Indian billionaires, at 140, is the third highest in the world behind US and China. Bezos and Musk are the richest.
After starting out as a commodities trader in the late 1980s, Adani is now richer than Jack Ma & is India’s second-wealthiest person with a net worth of $56 billion.
Pakistan’s reported air strikes on Kabul last night, coinciding with Acting Afghan Foreign Minister Amir Khan Muttaqi’s visit to India, seem intended to send...
Recommendations appear in Niti Aayog’s Tax Policy Working Paper Series–II. It says there is a need to shift away from fear-based enforcement to trust-based governance.
In service with the British military since 2019, it is also known as the Martlet missile. Ukrainians have also deployed these missiles against Russian troops.
Pakistan’s army has been a rentier force available to a reasonable bidder. It has never come to the aid of any Muslims including Palestinians or the Gazans, except making noises here and there.
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