Adani Group chairman Gautam Adani and Reliance Industries owner Mukesh Ambani are now on equal status in terms of assets. The assets of both are Rs 6.63-6.63 lakh crore. In dollars, it is $89 billion. The two business leaders are now the richest and on equal status in Asia.
On Wednesday, the total market capitalization of Adani Group firms stood at Rs 10 lakh crore. At the same time, the market cap of Reliance Industries came down to Rs 14.91 lakh crore. Reliance is ahead in terms of market cap, but Gautam Adani's stake in his own companies is higher than Ambani's stake in Reliance Group companies. Because of this, he had become richer than Ambani one day, but now both are on equal status.
Mukesh Ambani holds a 50.61% stake in Reliance Industries while Adani holds a 70.59% stake in his companies. His stake in 3 companies of Adani is 74.92%, in one company it is 74.80 and in the other 2 companies, it is 60-64%. Market capitalization is calculated by multiplying the number of shares by the current price of the share. Whereas the net worth is the value after deducting the liabilities from the assets of the individual or corporation.
Reliance's shares have been seeing a steady decline since the break of the $ 15 billion deal with Saudi Aramco. This decline continued on Wednesday as well. On Wednesday, Reliance's stock closed at Rs 2,350.90, down 1.48% on the BSE. Due to this, assets worth Rs 22,000 crore of investors were wiped out. Mukesh Ambani suffered a loss of Rs 11,000 crore from this.
After the fall in the shares of Reliance, its market capitalization came down to Rs 14.91 lakh crore. However, it is still the most valuable firm in India. The share of Reliance Industries Infrastructure, another listed company owned by Mukesh Ambani, has fallen 1.57% to Rs 613.85. After this fall, its market cap rose to Rs 926.91 crore.
Adani Group on Wednesday saw an increase of Rs 12,000 crore in gross market cap and Rs 4,250 crore in net market cap. On Wednesday, the stock of Adani Enterprises closed at Rs 1754.65 with a rise of 2.76% in the market. This took the company's market cap to Rs 1,92,978.18 crore.