Billionaire Gautam Adani’s ports-to-energy conglomerate rocked on Tuesday as shares of four of its six listed companies soared to an all-time high. With this, the Adani group has become India’s third group to cross $100 billion in market capitalisation, after Tata Group and Reliance Industries Ltd.
According to stock exchange data, the total market cap of Adani Group’s six listed companies was Rs 7.84 lakh crore or $ 106.8 billion at the close of trading on Tuesday.
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Initially in the late 1980's, Gautam Adani had started out as a commodities trader, which later went on to become an empire spanning from mines, ports and power plants to airports, data centre, city gas and defence.
As per the figures at the close of trading on Tuesday, Adani Enterprises touch a record high of Rs 1202, up 5.6 per cent while Adani Total Gas hit an all-time high of Rs 1248.
Adani Transmission on the other hand jumped 5 per cent, touching Rs 1147 mark and Adani Ports gained 4 per cent to an all-time high of Rs 791. Adani Power stood at 98.40 i.e. 5 per cent while Adani Green Energy rose 2.3 per cent, touching Rs 1194.
Five of the Adani Group firms have a market cap of over Rs 1 lakh crore, while one, Adani Power, has an m-cap of Rs 37,952.28 crore.
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It is worth mentioning that the Adani group in recent weeks has acquired a stake in Gangavaram port ad commissioned wind power plant in Gujarat. It also discovered natural gas reserves off the Mumbai coast, acquired solar projects, bought a power transmission project from Essel Infraprojects. In addition to this, the company has also signed a pact to develop 1 gigawatt of data centre capacity in India.