Adani group overtakes Tatas to be India's most valued conglomerate

The gap between Mukesh Ambani and Adani has widened by 40 per cent. Ambani, with $91 billion net worth, is ranked eighth in the world

Gautam Adani’s red-hot streak on Dalal Street continues with his group of companies overtaking the ones under the Tata umbrella to become India’s most valuable conglomerate.

At Friday’s close, the market value of all listed stocks of Adani Group stood at Rs 22.27 trillion (about $278 billion), higher than Tata Group’s Rs 20.77 trillion ($260 billion). Mukesh Ambani-led Reliance Group is in third position with market capitalisation (market cap/value) of Rs 17.16 trillion ($220 billion).

The market value of the Ahmedabad-based group is for its nine listed firms starting with the family name Adani and also for the Ambuja Cements