Six Of Seven Adani Group Companies Beat Top Nifty 50 Gainers In 2022
All the seven Adani Group companies have outperformed India's stock benchmarks so far this year, catapulting promoter Gautam Adani into the league of the world's most richest.
Adani Ports & Special Economic Zone Ltd. is the only stock from the ports-to-power conglomerate in the Nifty 50. It will be joined by Adani Enterprises Ltd. after it replaces Shree Cement Ltd. in the index effective Sept. 30 as part of the National Stock Exchange's semi-annual rejig.
The Adani Group flagship—controlled by Asia's richest man Gautam Adani—is expected to witness inflows of $213 million after its inclusion in the Nifty 50, according to Edelweiss Alternative & Quantitative Research.
Adani Enterprises—the newest Nifty 50 entrant—has risen 89% so far this year. That's higher than the best-performing Nifty 50 stock of the year, Coal India Ltd., which has gained 58% during the period.
While Adani Enterprises has outperformed all top Nifty 50 gainers so far in 2022, it's not the best-performing group stock.
Adani Power Ltd. has surged more than 300% year-to-date, followed by recently listed Adani Wilmar Ltd. and Adani Transmission Ltd.
Adani Ports, with nearly 15% gains YTD, is the only stock that has underperformed the top Nifty 50 gainers.
The uptick in shares of Adani Group companies have propelled Gautam Adani's wealth as he became the world's third-richest person—the only Asian to reach the No. 3 spot in the Bloomberg Billionaires index.
Adani's net worth stood at $140.9 billion, with $64.4 billion wealth added in 2022 alone. He now only trails Elon Musk and Jeff Bezos. Adani is also the only Indian among the top 10 wealthiest in the world. Reliance Industries Ltd.'s Mukesh Ambani is on the 11th spot in the billionaires list with a net worth of $91.1 billion.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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