Gautam Adani, the chairman and founder of the agitated Adani Group, reclaimed his spot among the top 20 richest individuals on the Bloomberg Billionaires list. The billionaire's net worth raised by $4.38 billion to $64.2 billion on 23 May as the share prices of the companies in the Adani group rose in the stock market. This move propelled Gautam Adani to 18th among the world's richest people, bypassing figures like Jacqueline Badger Mars and Zhong Shanshan.
After Hindenburg Research's research on the Adani group, Gautam Adani's net worth notably decreased, and he fell off the top 20 list on 3 February 2023. Adani, who was previously the second-richest person in the world and had an estimated worth of $154 billion in September 2022, is down by $56.4 billion since the year started.
Since the day before yesterday, the stocks of the Adani Group companies that had been declining over the previous few days have started to reverse. All of the Adani stocks are currently trading in the positive.
Shares of Adani Enterprises, ACC, NDTV, Adani Ports, Ambuja Cements, and Adani Total Gas Limited are currently trading in the green. In contrast, Adani Power, Adani Green, and Adani Transmission shares are presently trapped in their upper circuits.
On 02 March, trade in the Adani Total Gas stocks resumed after they had been stuck in their lower circuit for the previous 23 out of 25 sessions. Additionally, it increased by more than 2% on 03 March.
The company was most severely impacted by the Hindenburg report's criticism of the Adani group. In 24 sessions up to the day before yesterday, it lost 82.5 per cent.