Gautam Adani, Chairman of Adani Group, re-entered the Forbes list of richest people in the world, positioning at number 17.
Last week, Gautam Adani, Chairman of Adani Group had gone from world’s 3rd richest person on 17 January 2023 to not even being among the top 20.
The share price of Adani Enterprises increased by 25 percent, peaking at Rs. 1,965.50. Adani Ports now costs Rs. 598.70, a 9.64 percent increase. At Rs. 1,324.45 for Adani Transmission and Rs. 399.40 for Adani Wilmar, respectively, their upper circuit limits were surpassed.
After US short seller Hindenburg Research accused the Adani Group of "brazen stock manipulation and accounting fraud scheme over the course of decades," the sharp decline in Adani's wealth came under fire.
triggered by the report from Hindenburg Research, Adani Group equities have lost more than $118 billion in market value over the past two weeks.
On February 7, Adani Ports said that on a consolidated basis, its December 2022 quarter revenue decreased by 16 percent to Rs. 1,315.54 crore from Rs. 1,567.01 crore in Q3FY22.
Adani Transmission, a subsidiary of the Adani Group, announced a 77.8 percent increase in its consolidated net profit for the quarter ending in December 2022, coming in at Rs. 474.72 crore. This compares to a net profit of Rs. 267.03 crore during the same time last year.
The shares of 2 companies of Adani have touched the upper rotation. Today i.e. on February 7. Shares of Adani Enterprises, Adani Wilmar, Adani Green, Adani Ports, ACC Cement, and Ambuja Cement have seen gains. There has been a strong jump in the shares of Adani Group today. Shares of Adani Enterprises climbed up to 20 percent in early trade itself. Till the time of writing the news, the stock of Adani Enterprises gained 235.20 points to reach Rs 1807.50.
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