Gautam Adani Re-enters Forbes Richest List, Ranks 17

Owner of Adani Group, the Indian industrialist, Gautam Adani has re-entered the Forbes list of 'The World's Billionaires', ranking at number 17, with an increase of USD 463 million on Tuesday, February 7.

In the previous week, Adani slipped from the third position on the Forbes list, to not even among the top 20 richest people. 

Notably, the Adani Group stocks have seen an increase- Adani Ports prices have increased by 9.64 per cent (Rs 598.70), Adani Enterprises surged by 25 per cent, while Adani Wilmar and Adani Transmission prices have reached their upper circuit limits amounting to Rs 399.40 and Rs 1,324.45, respectively.

Since January end, stocks of Adani Group have lost over USD 118 billion in market value after the US-based short seller Hindenburg released a report citing India's Adani Group conglomerate as of stock manipulation and alleged corporate wrongdoing, following which shares of Adani Group companies have fallen drastically since January 24.