After a steep fall for the Adani Group, Gautam Adani is back on the 'World's Real-time Billionaire' list of Forbes after falling to the 22nd position on February 3. Currently, Adani is placed in the 17th spot, after the rise of his company's stock. His current net worth, according to the list, is $63.4 billion.
Repaying loans worth $1.1 billion
This comes a day after the announcement that Adani Group promoters will be repaying early loans worth $1.1 billion for the release of share backed loans ahead of maturity in September, 2024.
Adani back on list of World's top 20 richest billionaires | Screen grab from Forber
Share of Adani Group
Currently, most of Adani Groups' shares are positive. Adani Enterprise saw a rise of 25 percent on Tuesday, with the trading being suspended three times. While the transactions resumed, the shares remained close to 17 per cent higher in the early afternoon.
Adani Transmission and Adani Wilmar were both up by five per cent, whereas Adani Total Gas limit-down to the same extent. Adani Green and NDTV were up by approximately 5 per cent, Adani Ports by 7 per cent, ACC jumped by nearly 3 per cent whereas Ambuja Cement and Adani Power were up by 4 per cent and 2 per cent respectively.
Earnings
Other than the release of $1.1 billion the positive earnings reported by Adani Group also helped reassure the investors. Adani Transmission in the quarter ending in December reported a profit rise of 73 per cent to Rs 478 crore. Adani Ports also reported a total income of Rs 5,051.17 crore, whereas it reported a profit of Rs 1,336.51 crore.
