Analysts are at their most bullish on billionaire Mukesh Ambani’s Reliance Industries Ltd. since January 2016 amid a dip in the share price of India’s largest company. The stock is down 3% so far in 2023 compared with a gain of 1.5% in the S&P BSE Sensex Index, hurt in part by a decline in … Read more
Ajay Gopikisan Piramal is the chairman of the Piramal Group, a conglomerate with interests in pharmaceutical, healthcare analytics, real estate, financial services, and glass packaging. Anand Piramal, his son, is married to Mukesh Ambani’s daughter Isha Ambani. Ajay Piramal’s real estate investments Isha Ambani and Anand Piramal own a luxurious house spread over 50,000 square … Read more
US billionaire Jeff Bezos lost most wealth in dollar terms over the last year, according to the 2023 M3M Hurun Global Rich List released on Wednesday. The founder of e-commerce marketplace Amazon lost $70 billion in personal wealth, which is greater than the combined loss suffered by Indian billionaires Mukesh Ambani and Gautam Adani, a … Read more
(This story originally appeared in on Feb 28, 2023) MUMBAI: Gautam Adani is now placed at the 38th spot in the Forbes rich list, a far cry from the third position just before the Hindenburg report was published, which impacted his group’s stock prices. Currently, Adani’s net worth is estimated at $33.4 billion, according to … Read more
(This story originally appeared in on Jan 31, 2023) MUMBAI: The massive sell-off in Adani Group stocks continued for the third consecutive session on Monday, wiping out nearly Rs 1.4 lakh crore worth of investors’ wealth. In all, about 29% of the group’s market capitalisation, or about Rs 5.6 lakh crore, has been eroded in … Read more
The year 2022 hasn’t been a blockbuster for the Indian equity market, but the billionaires of India have reasons to think otherwise. Despite the year seeing a sharp depreciation in the rupee amid the weak global macroeconomic conditions, the combined wealth of India’s 100 richest people grew $25 billion to touch $800 billion in 2022, … Read more
“The internet will soon cost lesser than the price of a vada pav,” roared Mukesh Ambani in September 2016 at the launch of Reliance Jio, the latest telecom entrant in an overcrowded market. One gigabyte of data used to cost about Rs225 in those days, and vada pav, Rs12. Fast forward a few years – … Read more
Gautam Adani surged to the top spot in the IIFL Wealth-Hurun India Rich List of 2022, surpassing Mukesh Ambani with his wealth more than doubling in the past year. Sun Pharma’s Dilip Shanghvi and Uday Kotak re-entered the list this year, replacing Kumar Mangalam Birla of Aditya Birla Group and Jay Chaudhary of Zscaler, according … Read more
Adani Group has become India’s most valuable business house in terms of market value of its companies, surpassing the Tata Group. The completion of the acquisition of Ambuja Cement and helped Adani overtake the Tata Group. The combined market capitalisation of the Adani Group, including the newly-acquired Ambuja and ACC, stood at ₹22.25 lakh crore … Read more
Industries’ much-awaited 45th annual general meeting (AGM) may spell out details on the succession plan, including the roles of next-generation Ambanis: Isha, Akash, Anant, and also the 5G rollout. The market is expecting the oil-to-telecom major to provide a timeline for the demerger or the initial public offering (IPO) of its two entities Reliance Jio … Read more