Stock rally brings Gautam Adani back among world's 20 richest billionaires

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Key Points

The Ahmedabad-based businessman's total net worth is still down by $53.8 billion on the year-to-date basis.ETMarkets.com..

Indian billionaire Gautam Adani has paved his way back into the top 20 richest people in the world riding on a back-to-back rally that has seen the combined market cap of Adani Group-owned companies go up by 1.33 lakh crore...

Adani Group has been in news with all 10 stocks witnessing a strong rally following the Indian Supreme Court's observations on market regulator Securities and Exchange Board of India's (Sebi) probe against the group, which has enthused investors' interests in the stocks...

Adani is the second richest Indian in the list and behind Mukesh Ambani who has an estimated total net worth of $89.5 billion..

A bench headed by Chief Justice D Y Chandrachud also asked Sebi what it intends to do in future to ensure investors don't lose wealth due to volatility in stock market or short-selling, the apex court observed it would not be proper for it to set up a special investigation team (SIT) on its own without any material before it...

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