After a massive fall for the Adani Group, Gautam Adani is back on Forbes’ ‘World’s Real-Time Billionaire’ list after falling to the 22nd spot on February 3. Company stock. According to the list, his current net worth is $63.4 billion.
Paying off $1.1 billion in debt
This comes a day after it was announced that the promoters of Adani Group will repay an initial debt of $1.1 billion to issue share backed debt before maturity in September, 2024.
At present, most of the shares of Adani Groups are positive. Adani Enterprise saw a 25 per cent gain on Tuesday even as trading was suspended thrice. When trading resumed, shares were up about 17 percent in the afternoon.
Adani Transmission and Adani Wilmar both increased by five per cent, while Adani Total Gas’ limits declined by a similar amount. Adani Green and NDTV rose by about 5 per cent, Adani Ports by 7 per cent, ACC by about 3 per cent while Ambuja Cement and Adani Power gained by 4 per cent and 2 per cent respectively.
Income
Positive earnings reported by the Adani group apart from issuing $1.1 billion also helped reassure investors. Adani Transmission reported 73 per cent growth in profit at Rs 478 crore for the quarter ended December. Adani Ports also reported a total income of Rs 5,051.17 crore, while it reported a profit of Rs 1,336.51 crore.