NEW DELHI: Shares of all Adani Group companies surged on Friday by up to 14 per cent after US brokerage Jefferies put a bullish view on the group that is back to an expansion spree with a planned $90 billion capital expenditure over the next decade.
An addition of Rs 84,064 cr in market value took the market cap of 10 Adani group listed firms to Rs 17.51 L cr at the close of trading on Friday. This helped Adani, a first-gen entrepreneur and chairman of the namesake conglomerate, overtake Ambani.
In January, Adani had overtaken Ambani after nearly 12 months but soon after conceded the top spot to Ambani. Now he has overtaken Ambani again. In 2024, Adani’s net worth has jumped $26.8 billion while Ambani’s wealth has increased by $12.7 billion, according to Bloomberg Billionaires Index.