gautam adani net worth
The net worth of Adani Group Chairman Gautam Adani has increased tremendously on Friday. This has happened due to the huge rise in the shares of Adani Group. After the news of the US indictment, there was a huge fall in Adani’s shares. After that, the shares of the group are witnessing a huge rise in the last three sessions. Due to this, the impact of the US indictment on Adani Group companies has now subsided. According to Bloomberg Billionaires Index, Gautam Adani’s wealth has increased by $ 8.64 billion in a single day. If seen in rupee terms, this amount is Rs 73,059 crore. With this, the net worth of Adani Group has increased to $75.5 billion. He is currently the 20th richest person in the world and the second richest person in India.
CRISIL Ratings calls Adani Group strong
Backing Adani Group, CRISIL Ratings said the group has adequate cash and operating cash flows to meet debt obligations and committed capital expenditure. The rating agency said that no negative action has been taken so far by lenders and investors after the group’s founding chairman Gautam Adani was prosecuted in the US. Crisil said in its bulletin that Adani Group has scope to reduce discretionary capital expenditure (capex) based on developments in the financial markets and future capital availability. It has better earnings before tax (Ebitda) and cash balance which reduces its dependence on external debt to maintain operations.
the issue of bribery is wrong
At the same time, Chief Financial Officer (CFO) of Adani Group Jugeshinder Singh said that the talk of bribing government officials to get contracts is completely wrong. Along with this, Singh said that if any huge amount was paid, he would definitely have known about it. “We are 100 percent aware that there is no such case,” he told reporters at an event of financial services platform Trust Group. Because if you are paying that much cash to someone, I will definitely know.” Singh said the charges filed in the US against group chairman Gautam Adani and others, including his nephew Sagar Adani, were ‘prosecution rights’. It is a case of ‘unique use’.
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