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For Adani Group, it's vesterday once more
Financial Express Mumbai
|January 04, 2024
SC judgment will boost eroup’s confidence on mega investment plans
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THOUGH WEDNESDAY'S SUPREME Court judgment hasn't let it off the hook completely in the matter of the serious allegations made by short-seller Hindenburg Research, Adani Group is already almost back to where it belonged nearly a year ago.
The surge in Adani Group stocks has boosted chairman Gautam Adani's wealth to $84.3 billion, according to the Bloomberg Billionaires Index, propelling him to the 15th position in the global rich list.
That's just one slot below Mukesh Ambani's 14th spot with a wealth of $96.3 billion. The SC observation, welcomed by Adani almost immediately, is expected to fuel the group's ambitions once again.
That the old confidence is already back is also evident from the group's ambitious global plans. The blueprint was laid by the group's chief financial officer Jugeshinder Singh last month. It plans to spend a staggering $84 billion over the next decade on infrastructure projects.
This story is from the January 04, 2024 edition of Financial Express Mumbai.
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