Adani Group is Now India’s 2nd Most Valued Listed Conglomerate; No. 1 & No. 3?

  • Investing.com
Adani Group is Now India’s 2nd Most Valued Listed Conglomerate; No. 1 & No. 3?

By Malvika Gurung

Investing.com -- Gautam Adani-led energy-to-infrastructure conglomerate is now the second most valued listed conglomerate in the country, in terms of the market capitalization of group companies, toppling the Mukesh Ambani-led companies from the position.

Tata Group is the largest listed conglomerate in India, with a total market capitalization of group companies at Rs 22.05 lakh crore.

Adani (NS: APSE ) Group companies’ collective market capital has totalled Rs 19.73 lakh crore, surpassing Mukesh Ambani Group companies’ market valuation of Rs 17.82 lakh crore even though the former’s debt surged 41% YoY to Rs 2.2 lakh crore, as of March 31, 2022, stated a Moneycontrol report.

Shares of Adani Group companies have skyrocketed up to 330% so far in 2022, with the power and energy player Adani Power (NS: ADAN ) rallying the most, followed by Adani Transmission (NS: ADAI ).

The edible oil major of Adani Group, Adani Wilmar (NS: ADAW ) has soared a whopping 215% since its listing on the Indian exchanges in Feb 2022.

Read Also: Multibagger Adani Group Stock Soars 330% YTD, Experts See More Upside: Here’s More

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