Lagatar24 Desk
New Delhi, June 3: Mukesh Ambani, Chairman and Managing Director of Reliance Industries, has reclaimed the top spot in Asia’s richest person list, knocking Gautam Adani, a fellow Indian entrepreneur, down to eighth place.
According to the Bloomberg Billionaire Index, Ambani is worth $99.7 billion. Adani has slid to ninth place with a net worth of $98.7 billion.
Ambani’s fortune increased by $3.59 billion in the last 24 hours, according to Bloomberg’s Billionaires Index, which analyses each billionaire’s net worth. Adani’s wealth increased by $2.96 billion.
RIL’s stock rose three percent to 2,816.35 on the BSE on Friday, after rallying seven percent in the previous two trading days on hefty volumes.
In the last week, Reliance’s stock has risen 6.79 percent. It has increased by 16.61 percent in 2022 and has returned 27% in the previous year.
The rise follows the company’s March quarter results, which showed a 22.50 percent year-over-year (YoY) increase in consolidated net profit to 16,203 crore. In the same quarter last year, it was worth Rs 13,227 crore. The operation’s revenue increased 36.79 percent year over year to 211,887 crore, up from 154,896 crore in the previous quarter.
Elon Musk, the founder of Tesla and SpaceX, is at the top of the list, followed by Amazon’s Jeff Bezos.
