Strong rise in stock prices Adani close to Bezos in net worth

Adani Group chief Gautam Adani, who had earlier surpassed the net worth of Warren Buffett and Bill Gates after becoming Asia’s richest person, is now on his way to becoming the world’s richest person. His wealth is just short of Amazon founder Jeff Bezos and Elon Musk, owner of electric car maker Tesla.

This success of Adani is astonishing. Last year there was a huge decrease in the wealth of many rich people of the world but Adani’s net worth has almost doubled. According to the Bloomberg Billionaires Index, Adani’s wealth increased by $64.8 billion to over $141 billion, making him the third-richest person in the world. The major reason for the increase in his wealth is the increase in the prices of oil and natural gas. Share prices of some companies of Adani Group more than doubled this year increased Huh. Share price of Adani Green Energy and Adani Total Gas are trading at more than 750 times. The valuation of Adani Enterprises and Adani Transmission is more than 400 times.

Musk’s Tesla and Bezos’s Amazon have price-to-earnings ratios of around 100. The stock of Reliance Industries Chairman Mukesh Ambani’s company is trading at around 28 times. Adani is positioning his group in line with Prime Minister Narendra Modi’s long-term goals for the country’s economic growth. From the point of view of the stock market, these efforts of Adani seem to be successful. Share prices of some of his companies have risen by more than 1,000 per cent in the last two years, while the Sensex has gained nearly 44 per cent during this period.

Reliance Jio Infocomm, the telecom company of Reliance Group, has announced the launch of 5G connectivity in major cities from October. These cities include Delhi, Mumbai, Chennai and Kolkata. The company plans to extend this facility to every district of the country by the end of next year. coverage to be delivered. Along with this, Jio has also started a service called Air Fiber. This will provide support for 5G hotspots and users will be able to get wireless broadband connectivity on this high-speed network.

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