Gautam Adani replaces Mukesh Ambani, reclaims the title of India’s richest person

Gautam Adani, the chairman of the Adani Group has once again bagged the title of India’s richest person. He has surpassed Mukesh Ambani, the chairman of Reliance Industries Limited (RIL), reports said on June 3. This news is followed by a significant rise in the stock prices of Adani Group companies.

The total market capitalisation of Adani Group, the ports-to-power conglomerate headed by billionaire Gautam Adani, has crossed the "pre-Hindenburg level", reports said on Monday, June 3.

Shares of all the listed entities of Adani Group jumped sharply during the early trading, leading to the m-cap rising by over ₹2 lakh crore to ₹18.5 lakh crore.

The sharpest climb was recorded by Adani Power, which surged by 12% during the first hour of trading, followed by Adani Ports climbing by 9%. The flagship Adani Enterprises rose 7%, Adani Energy Solutions 8%, NDTV 5%, Adani Wilmar 3.5%, Adani Total Gas 7%, Ambuja Cement 4%, and ACC 3%.