Sensex surge helps Mukesh Ambani climb world's rich-list ladder
The phenomenal surge in the Bombay Stock Exchange (BSE) benchmark 30-share sensitivity index, the Sensex, over the last fortnight has helped Reliance Industries' (RIL) chairman Mukesh Ambani climb up the ladder of the world rich-list by leaps and bounds, and, if market reports are to be believed, the RIL chief is now next only to software king Bill Gates of the US, Mexican business baron Carlos Slim Helu and Warren Buffett, who is revered as the world's greatest investor.
Based on the closing share prices of various Reliance group companies on Tuesday, Ambani, through promoter holdings, is estimated to be worth at least $50.1 billion (Rs.2,04,945 crore). Incidentally, Mukesh Ambani is also the highest paid executive in India with an annual pay package close to $6.25 million (Rs.25 crore).
In comparison, Lakshmi N. Mittal, whose family holds 44.79 percent stake in the world's largest steel producer ArcelorMittal, is worth about $48.4 billion.
Mukesh Ambani's estranged younger brother, Anil Ambani, who also witnessed a leap in share value of his group companies, is worth about $29.4 billion (Rs.1,17,710 crore), ahead of real estate baron K.P. Singh of DLF Ltd., who has a net worth of $28.8 billion (Rs.1,15,225 crore).
Thanks to the bullish stock market, Sunil Mittal of Bharti Airtel, India's largest private sector mobile services provider, also saw his net worth soar to $22.9 billion (Rs.91,500 crore). Wipro's Azim Premji is at fifth place with a net worth of about $12.65 billion (Rs.50,600 crore).
The shares of Mukesh Ambani's flagship company Reliance Industries as well as three other group firms - Reliance Petroleum Ltd (RPL), IPCL and Reliance Industrial Infrastructure Ltd (RIIL) surged to a total of $105.5 billion (Rs.4,22,170 crore) on Tuesday while the market value of brother Anil Ambani's group companies – Reliance Communications (RCom), Reliance Capital Ltd (RCL), Reliance Energy Ltd (REL) and Reliance Natural Resources Ltd (RNRL) - soared to $50.1 billion (Rs.2,00,500 crore).
On September 25, Mukesh Ambani-promoted Reliance Industries and its group companies Reliance Petroleum (RPL) and Reliance Industrial Infrastructure (RIIL) recorded a new 52-week high of Rs.2,375, Rs.172 and Rs.1147.40, respectively.
Later, the scrip of the country's largest private sector firm RIL closed 3.62 percent high at Rs.2,356.70 while RPL settled 8.03 percent up at Rs.167.40 and RIIL remained locked at its 10 percent upper circuit limit of Rs.1,147.40 on BSE.
In comparison, Anil Ambani-controlled Reliance Energy (REL), Reliance Natural Resources (RNRL), Reliance Communications (RCom), Reliance Capital (RCL) also soared to new all-time high of Rs.1,130.70, Rs.98, Rs.600.70 and Rs.1,594.55 respectively.
The shares of REL closed 8.33 percent up at Rs.1,093.70 and that of RNRL climbed 21.97 percent at Rs.93.55. The scrip of RCom advanced 3.26 percent to Rs.598.25 while that of RCom rose 2.09 percent to Rs.1574.05 on BSE.
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