Adani mcap soars 88% in six months, RIL up 13%: Report

NEW DELHI: The Gautam Adani-led Adani Group’s value jumped 88. 1% to Rs 17. 6 lakh crore in the six months ending April 30, a period that witnessed dramatic global events, including the Russia-Ukraine war and the interest rate hike by the US Federal Reserve.

The Mukesh Ambani-led Reliance Industries, in comparison, witnessed a 13. 4% rise in value to Rs 18. 9 lakh crore to retain the top spot, while TCS came second at nearly Rs 13 lakh crore despite a 0. 9% decline in value, followed by HDFC Bank, Infosys and ICICI Bank.

In addition, total value of the top 500 companies in India increased marginally by 2% to Rs 232 lakh crore from Rs 221 lakh crore as on October 30, 2021, showed the latest updates to the 2021 Burgundy Private Hurun India 500 list. “Indian companies have weathered the storm and performed better than global peers. It shows the inherent strength and depth of the Indian economy,” said Hurun India’s MD and chief researcher, Anas Rahman Junaid.

Value of four listed unicorns Nykaa, Zomato, Paytm and Policybazaar, however, dropped Rs 1. 6 lakh crore during the period. The on- ly listed unicorn which performed well was logistics company Delhivery. The National Stock Exchange of India beat Serum Institute of India to become the most valuable unlisted company in India, growing by 35. 6% during the period to Rs 2,28,100 crore. Even edtech giant Byju’s saw a 24. 7% jump to Rs 1. 7 lakh crore, while Ramdev-led FMCG giant Patanjali Ayurved saw a 17. 9% decline in its value at Rs 23,000 crore.