Adani Group Edges Past Tata Group To Become The Most Valued Business House In India

Adani Group has become India's most valuable business house in terms of the market value of its companies, surpassing the Tata Group. The recent completion of the acquisition of Ambuja Cement and ACC has helped Adani Group to overtake the Tata Group.

The combined market capitalisation of the Adani Group, including the newly-acquired Ambuja and ACC, stood at Rs 22.25 lakh crore as of Friday. The total market value of all Tata Group firms was Rs 20.81 lakh crore.

tatatrusts

Mukesh Ambani-led Reliance Industries is in third place with Rs 17.07 lakh crore market value, as per ET.

Even upon excluding ACC and Ambuja Cement, the Adani Group's market capitalisation has increased by nearly Rs 10.16 lakh crore this year thanks to the sharp run-up in stock prices of most of its companies. During this period, Tata Group has lost Rs 2.57 lakh crore in market cap as its flagship company TCS declined by over 17%, the report mentioned.

As per a Business Standard report, Tata Group has 27 listed companies, of which TCS accounts for 53% of the conglomerate¡¯s market capitalisation. It also mentioned that the seven listed Adani Group companies (excluding Ambuja Cements and ACC) reported combined revenues of Rs 2.02 trillion and net profits of Rs 13,423 crore in FY22.

In comparison, Tata Group¡¯s listed companies¡¯ combined consolidated revenues and net profit were reportedly Rs 8.6 trillion and Rs 74,523 crore in FY22, respectively. RIL, on the other hand, reported consolidated revenues of Rs 7.4 trillion and a net profit of Rs 60,705 crore last financial year.

Also Read: Tata Trusts To Receive Rs 267 Crore As Dividend From Tata Sons

Gautam Adani Slips To Third On Forbes' Rich List

bloomberg

According to Forbes' real-time Billionaires list, Adani Group's Chairman Gautam Adani briefly surpassed Amazon's Jeff Bezos to become the world's second richest man last Friday. But, LVMH founders Bernard Arnault and family took the second spot in the list later that day.

As per Forbes real-time Billionaires List, at the time of writing this report, Tesla's Elon Musk is the world's richest with $273.2 billion net worth. Whereas the French business magnate Arnault is second placed with a net worth of $155.2 billion, while Gautam Adani and family are third placed at $154 billion. Amazon founder Jeff Bezos is currently in fourth place with a net worth of $146.9 billion.

Also Read: Tata Technologies To Launch IPO In FY 2022-23

For the latest and interesting financial news, keep reading Indiatimes Worth. Click here