Gautam Adani’s 4 companies enter Hurun Global 500; Mukesh Ambani’s RIL jumps ranks | The Financial Express

Gautam Adani’s 4 companies enter Hurun Global 500; Mukesh Ambani’s RIL jumps ranks

Other Indian companies featured in the Hurun Global 500 list include, ITC, Avenue Supermarts, Axis Bank, Bajaj Finserv, Larsen & Toubro and Wipro.

Gautam Adani’s 4 companies enter Hurun Global 500; Mukesh Ambani’s RIL jumps ranks
There are four billionaires who have been featured more than once in the Hurun G500 list, and Gautam Adani is one of them. (Photo credits: PTI)

India jumped to 5th spot from 9th in this years Hurun Global 500 report with four companies of billionaire Gautam Adani with a combined worth of $173 billion, entering the list. Mukesh Ambani’s Reliance Industries with valuation of $202 billion is the most valuable company in India, followed by Tata Consultancy Services and HDFC Bank. “India rose from 9th rank to 5th rank with 20 companies: 11 in Mumbai, 4 in Ahmedabad and one in each of Noida, New Delhi, Bengaluru and Kolkata. With US$202bn, Reliance Industries is the most valuable company followed by Tata Consultancy Services (US$139bn) and HDFC Bank (US$97bn). Financial Services led the way with 7 companies followed by Software & Services and Energy with 3 companies each,” according to Hurun Global 500 report. 

Also Read: FE ScaleUp Summit 2022: Rs 2,000 cr invested in 125 MSMEs under SRI Fund, says NSIC Gaurang Dixit

There are four billionaires who have been featured more than once in the Hurun G500 list, and Gautam Adani is one of them. The four Adani companies which have been added to the list are Adani Enterprises worth $63 billion, Adani Transmission $44 billion Adani Total Gas$43 billion and Adani Green Energy $40 billion. Other Indian companies featured in the Hurun Global 500 list include, ITC, Avenue Supermarts, Axis Bank, Bajaj Finserv, Larsen & Toubro and Wipro.

Indian markets, according to the report, performed much better than its global peers with Sensex surging 12%. China’s Shanghai Composite Index and United States’ Nasdaq have tanked 16% and 21%, respectively. The advancement in domestic stock markets despite unfavourable global environment due to covid19 pandemic and Russia-Ukraine war could be the reason behind the rise in valuation of Adani group’s companies.

Also Read: Draft Digital India Bill by December-end

Commenting on India’s contribution to the 2022 Hurun Global 500, Anas Rahman Junaid, MD and Chief Researcher, Hurun India said “Global markets have had a bad year, with the exception of India, where the benchmark Sensex was up 12%. HK’s Hang Seng and Russia’s MOEX were both down by a half, Korea’s KOSPI down 31%, Shenzhen Component Index down 29%, Nasdaq was down 21%, Shanghai Composite Index down 16%, South Germany’s DAX down 15% and the UK’s FTSE was flat.”

Apple retained the title of most valuable company in the world with valuation on 2.4 tn.Microsoft is ranked second followed by Alphabet, Amazon and Elon Musk’s Tesla. USA dominates the list, adding 17 companies to 260 or 52% of the Hurun Global 500, making up 65% of total value. China is on the second position with 35 companies, down 12, followed by Japan 28, down 2, and UK 21, down 3.

Also Read: FE ScaleUp Summit 2022: India’s top MSME voices unfold path for accelerated growth of small businesses

“This year the Hurun Global 500 lost US$11tn of value, losing all the value created last year but still US$7bn ahead of where the Hurun Global 500 were two years ago. The only sector that enjoyed strong growth was energy, especially the oil & gas companies. Other sectors that managed to grow a little or stay flat included confectionery, drinks and fast-food restaurants. The hardest hit sector was retail, especially ecommerce, on the back of soaring inflation, which in turn dragged down payments and delivery companies. By country, 80% of the losses in value came from four countries: the US lost US$5tn, China US$2.9tn, and Germany and Japan US$600bn each. By sector, US$8tn of losses came from Media & Entertainment, Retail, Financial Services, Software & Services and Consumer Goods,” the report added.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 09-12-2022 at 06:24:36 pm
Photos
8 Photos
Miss Universe 2023: USA’s R’Bonne Gabriel crowned in a glittering ceremony: See Stunning Photos
7 Photos
Nepal plane crash: Flight with 72 onboard crashes near Pokhara International Airport – Images
7 Photos
Business heads run at Mumbai Marathon, more than 50,000 people participate in event – See pictures here