Mumbai (Natural Energy News): Billionaire Gautam Adani's port-to-energy group on Tuesday became the third group in India to exceed $ 100 billion in market capitalization with shares of four of its six listed corporations for an all-time high.
According to stock exchange data, the total market cap of the six listed companies of Adani Group at the close of business on Tuesday was Rs 7.84 lakh crore, or $ 106.8 billion.
The Adani Group is the third Indian group after Tata Group and Reliance Industries Ltd. to cross the $ 100 billion market cap.
Beginning as a commodity trader in the late 1980s, Gautam Adani built an empire over two decades that now expanded from mines, ports and power plants to airports, data centers, city gas and defence.
In the last two years, his group has acquired control over seven airports and nearly a quarter of India's air traffic, making rapid progress in renewable energy capacity, winning a contract to develop a port terminal in Sri Lanka and bought ports in India.
In recent weeks, the group has explored wind power plants at Gangavaram Port, Gujarat, natural gas reserves off the Mumbai coast, acquired solar projects, purchased a power transmission project from Essel Infraprojects and an agreement to develop 1 GW Put signature on data center capability in India.
Adani Ports controls 30 per cent of the country's port industry and has a total of French energy giants as a partner in the renewable energy and gas distribution business of the city.
Adani Green is targeting 25 GW of renewable capacity by 2025.
According to BSE data, Adani Enterprises closed at a high of Rs 1,225.55 on the BSE on Tuesday, up 7.67 percent from the previous day's close.
Adani Total Gas touched a record level of Rs 1,248 before closing at Rs 1,204.35, while Adani Transmission jumped 5 per cent to Rs 1,147 before settling at Rs 1,109.90.
Adani Ports strengthened 12.84 percent to end at a high of Rs 837.45.
Adani Power rose 5 per cent to Rs 98.40, while Adani Green Energy rose 2.2 per cent to Rs 1,194.55.
Barring Adani Green and Adani Power, shares of other listed firms touched record highs.
The current market cap of the Tata group is around $ 242 billion while RIL has a cap of $ 171 billion.
Five companies of the Adani Group have a market capitalization of over Rs 1 lakh crore, while one - Adani Power has an M-cap of Rs 37,952.28 crore.
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