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Investors appear confident rather than worried. Four of the ten listed stocks have fully recovered from their lowest since Hindenburg triggered the crash. Adani Power has more than doubled, while Adani Ports has gained 52%. ACC and Ambuja Cement have also recovered to the pre-Hindenburg level. However, Adani Wilmar, Adani Energy Solutions and Adani Total Gas still trade 33-73% lower.
Gautam Adani, the founder and chairman of the Adani Group, has surpassed Mukesh Ambani in the Bloomberg Billionaires Index, securing the title of the richest Indian. Adani now holds the 12th spot, while Ambani is in the 13th position. Adani's net worth is reported at $97.6 billion, slightly ahead of Ambani's $97.0 billion. Both billionaires have ascended in their rankings.
Gautam Adani, 61, has seen a $13.3 billion jump in his fortunes in 2024 so far, the highest by any individual in 2024 so far, as per the Bloomberg index. Against this, Mukesh Ambani's wealth has jumped a modest $665 million in few sessions in to the year.
Adani Group aims to boost its presence in Telangana, planning missile and counter-drone system production, along with a pumped storage power project. Discussions with Chief Minister Revanth Reddy also included the possibility of industrial clusters and a 300MW capacity increase in state data centers. The state pledges support for infrastructure and subsidies, emphasizing its commitment to fostering industrial growth and job creation.