CHENNAI: The Adani Group has gained the most in terms of value in the six months to April 2022, with a 88.1 per cent jump to Rs 17.6 lakh crore, a report said on Wednesday.
In comparison, billionaire Mukesh Ambani’s Reliance Industries - which houses nearly all its ventures - saw a 13.4 per cent rise in value to Rs 18.87 lakh crore, which helped it retain the top rankings in Burgundy Private Hurun India 500 rankings.
TCS came second at Rs 12.97 lakh crore despite a 0.9 per cent decline in value, and was followed by HDFC Bank, Infosys and ICICI Bank.
Among the firms led by the Ahmedabad-based Gautam Adani, the valuation for Adani Green Energy rose the fastest at 139 per cent to Rs 4.50 lakh crore, which catapulted it to the sixth spot from 16th just six months ago, the report said.
Adani Wilmar grew by nearly 190 per cent to Rs 66,427 crore and Adani Power reported a 157.8 per cent growth to Rs 66,185 crore, the report said, adding that the nine companies in the Adani group combined together saw a 88.1 per cent surge in their value to Rs 17.6 lakh crore and account for 7.6 per cent of the top 500 companies now.
“The Adani Group companies in the review period increased their value by 88.1 per cent, as against an increase of just 2 per cent by the top 500 companies,” the report said.
Value of the top 500 companies in India increased marginally by 2 per cent to Rs 232 lakh crore from Rs 221 lakh crore as on October 30, 2021, it said.
“Indian companies have weathered the storm and performed better than their global peers. It shows the inherent strength and depth of the Indian economy,” Hurun India’s MD-chief researcher Anas Rahman Junaid said.
The valuation for Adani Green Energy rose the fastest at 139 pc to Rs 4.50 lakh cr, which catapulted it to the sixth spot from 16th