The upswing in fortunes of Gautam Adani, which briefly made him the world’s second richest this past month, is the reflection of a strong rally seen in seven of Adani Group stocks so far this year.
While 10 of Tata Group stocks delivered double-digit returns year-to-date, its crown jewel TCS plunged 20 per cent in the first nine months of 2022, weighing on the group performance.
For Mukesh Ambani-led Reliance group, a muted show by Reliance Industries meant the group return has been flattish for 2022 so far.
All in all, seven of Adani group stocks, including Adani Wilmar that got listed in February this year, saw their combined market capitalisation rising 92 per cent so far this year. ACC and Ambuja Cements, recently acquired by Adani Group, have not been considered for the study.
At last count, Gautam Adani’s was valued $130 billion, as per Bloomberg Billionaire index. Mukesh Ambani, on the other hand, was worth $82.7 billion.
Adani Group is followed by Ambani’s Reliance Group whose six listed companies saw a modest 3 per cent rise in combined market value. Reliance Industries edged 0.40 per cent higher in the first nine months of 2022.
Twenty seven Tata group stocks lost a combined 12.23 per cent in market value, hurt by a steep fall in shares of TCS. The second-most valued stock on BSE accounts for 54 per cent of the Tata group’s market capitalisation.
Big gainers
Adani Power (up 274 per cent), Adani Wilmar (up 228 per cent over issue price), and Adani Enterprises (up 101.98 per cent) led the gainers at Adani group this year.
TRF (up 95 per cent), Oriental Hotels (up 89 per cent), The Indian Hotels Company (up 84 per cent), Tata Investment Corporation (up 70.08 per cent) and Tejas Networks (up 60.61 per cent) delivered most to the Tata group investors.
Except for Reliance Industrial Infrastructure, which gained 25 per cent year-to-date, Reliance group stocks did not deliver returns.
While Reliance Industries was flat, Hathway Bhawani Cabletel & Datacom (down 39 per cent), Just Dial (down 31 per cent), Network 18 Media & Investments (down 29 per cent), Hathway Cable & Datacom (down 25 per cent) and Den Networks (Down 22 per cent) are in bear grips so far this year, data compiled from AceEquity suggests.