Tatas surpass Adani Group in terms of market value

On Friday, the Indian businessman Gautam Adani momentarily overtook the first Asian to enter the top three on Forbes’ real-time billionaire tracker.

With his group of enterprises surpassing those under the Tata umbrella to become India’s most valuable conglomerate, Gautam Adani’s hot run on Dalal Street continues.

The conclusion of the purchases of ACC and Ambuja Cement allowed Adani to surpass the Tata Group.

At Friday’s closing, the market value of the Adani Group’s whole portfolio of listed equities was Rs 22.27 trillion ($278 billion), surpassing that of Tata Group, which was valued at Rs 20.77 trillion ($260 billion). Reliance Group, which is run by Mukesh Ambani, is in third place with a market capitalization of Rs 17.16 trillion ($220 billion).

As Tata Consultancy Services, the group’s main company, fell by more than 17% during this time, the market capitalization of the Tata Group decreased by 2.57 lakh crore.