Billionaire Gautam Adani is back in the league of the world’s 20 richest people after a recent surge in the group company’s shares. Adani is now ranked 19th on the Bloomberg Billionaires Index with a net worth of $66.7 billion as of 29 November.
Adani Group stocks added over Rs 1.34 lakh crore to investors’ wealth on Tuesday. While the group’s market capitalization lost some gains on Wednesday, the rise lifted Adani into the top 20.
Shares of Adani group companies rose after the Supreme Court upheld its confidence in SEBI’s probe into the Hindenburg allegations. The top court, while hearing the matter last week, asked the petitioners, “where is the point of doubting” the regulator.
Chief Justice of India DY Chandrachud also questioned the “intelligence” of the conflict of interest allegations against the members of the committee appointed by the top court to look into the consequences of the short-seller attack. Adani Group shares have recovered since the initial fall following Hindenburg’s stock manipulation allegations. The party termed the claims as malicious.
