Facts first! It’s not actors or mega celebs or cricketers alone who are responsible for raising the brand equity of a country; forget not the entrepreneurs or the business tycoons. India is just as much a country of the iconic Sachin Tendulkar as it is of a certain Ratan Tata. It’s as much a country represented by the legendary Amitabh Bachchan as it is emblematic of the irreplaceable Azim Premji.
And where the recent years serve an example, India’s stronghold in the business milieu of the world has walked checkered new steps thanks to the rise and rise of the Adani Group. And specifically speaking, Tuesday, i.e., April 6, 2021, was of particular importance to the multinational conglomerate company.
It was a day of new highs for the organisation founded back in 1988. Specifically speaking, while the Adani enterprises hit an all-time high, a never-seen-before rise of ₹1255.55, the Adani Transmission jumped to ₹1109.90. And at this very time, Adani Ports’ gain stood at ₹837.45.
And in so doing, the famous enterprise whose second nature has so often been growth and profits reached a new high among other things: it became only the third Indian company with a market capitalisation that crossed USD 100 billion.
Take a hard look at the imposing figure and let it all sink in!
The above numbers are taken from the BSE data. And while there’s not a single publication dealing in business and finance that’s not talking about Gautam Adani, the face of the mega corporate, elsewhere, international publications heralded the rise of one of the wealthiest businessman from India of all time as well.
Forbes has reported that Gautam Adani is now one of the world’s top 20 billionaires. The others, we so often have been informed and know well, are the likes of Amazon’s Jeff Bezos, Tesla’s Elon Musk, Microsoft’s Bill Gates among the leading luminaries.
But then a super-soaring market capitalisation figure worth 100 billion US Dollar is no joke; it’s the stuff that golden dreams are made of and somewhere that very skyrocketing number that most entrepreneurs who set about finding themselves aim to reach.
And in capturing the essence of the powerful business establishment that is the Adani Group, News 18 summed it up perfectly:
In the last two years, his group has gained control of seven airports and almost a quarter of India’s air traffic, made rapid strides in renewable energy capacity addition, won a contract to co-develop a port terminal in Sri Lanka and bought ports in India. In recent weeks, the group has acquired a stake in Gangavaram port, commissioned a wind power plant in Gujarat, discovered natural gas reserves off the Mumbai coast, acquired solar projects, bought a power transmission project from Essel Infraprojects and signed a pact to develop 1 gigawatt of data centre capacity in India.
That being said, take a look at the sheer authority with which the Adani ports business control’s the country’s ports, with its tentacles reaching spheres as wide and supreme as renewable energy and city-base gas distribution:
Adani Ports controls 30 per cent of the nation’s port industry and has French energy giant Total as a partner in its renewable energy and city gas distribution business. Adani Green is targeting 25 gigawatts of renewable capacity by 2025.
But all of that being said, there’s more reason for the company to celebrate. Wondering why: no fewer than 5 of Adani group companies have a market capitalisation of Rs 1 lakh crore.