Mukesh Ambani’s wealth soared 43% since Nifty’s previous high; but Adani lost it by half


Mukesh Ambani’s wealth soared 43% since Nifty’s previous high; but Adani lost it by half

India dropped on the global list of billionaires this year with the total count of billionaires falling by 11, thanks to the demonetisation drive.

But Mukesh Ambani remained on top of the Hurun Global Rich List India with a net worth of Rs 1,75,400 crore even when the total combined wealth of Indian billionaires fell 1 per cent to $304 billion.

And as the equity benchmark Nifty rules at a new high, the senior Ambani’s Reliance group has emerged as a clear winner on the Dalal Street since the 50-stock pack hit its previous high in March 2015.

Anil Agarwal’s Vedanta group, Godrej and BK Birlas have been the other top gainers.

Data showed lifted by Reliance Industries’ shares, the Mukesh Ambani-led Reliance Group witnessed a Rs 1.28 lakh crore jump in its market value during the two-year period.

Five of Ambani’s listed companies – RILBSE 1.52 %, RIIL, Network18 Media, TV18 BroadcastBSE 5.12 % and Infomedia Press –have seen their combined market-cap rise to Rs 4.3 lakh crore till Monday, compared with Rs 2.98 lakh crore as of March 4, 2015.

“As per RIL, RJIO’s Ebitda could reach Rs 75,000 crore by FY21, five times our current estimates, driven by better-than-estimated Arpu. Following near-term commissioning of mega core projects, we expect RIL’s FCF to turnaround, RoE to rise and profit to double in five years,” EdelweissBSE 1.34 % Securities said in a note.

Metal magnet Anil Agarwal’s Vedanta group has seen its four of its companies Vedanta, Hindustan Zinc, Cairn IndiaBSE 0.67 % and Sterlite TechnologiesBSE 0.12 % adding Rs 65,538 crore to their combined m-cap to Rs 2.50 lakh crore, up 35 per cent in two years. Read More…

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Credit By : Economictimes.indiatimes.com

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