Reliance Industries chairman Mukesh Ambani gained the maximum wealth in a single day on November 2 among the world’s top billionaires, adding over $6 billion to his fortune after shares of Reliance Industries surged over 11 per cent. With this, Ambani left Gautami Adani behind to be the richest individual in India.
According to Forbes ' Real-Time Billionaires list, Ambani's wealth increased by 7.85 per cent, or USD 6.3 billion, making him the biggest gainer globally in the latest update to the ranking on November 2.
The shares of Reliance’s flagship company witnessed its strongest trading session in more than six years, buoyed by the company’s record quarterly profit of Rs 29,550 crore for July-September.
The uptick in the stock added Rs 1,83,298.24 crore to Investors, taking Reliance Industries' valuation to Rs 17,57,876.78 crore.
Surpasses Gautam Adani, Becomes 23rd Richest In the World
The gains pushed Ambani to the No.23 spot on the world billionaire list, making him the richest Indian ahead of Gautam Adani. Adani, now ranked at No. 26 with a wealth of USD 79.12 billion, according to the Forbes listing. Ambani had a wealth of USD 88.8 billion, according to Forbes.
Reliance, which is the country's most valued firm by market valuation, closed the session, emerging as the biggest gainer among Sensex and Nifty firms. Its rally drove market momentum.
Also Read: India's Manufacturing PMI Eases To 54.7 In October: Is Growth Losing Momentum?
Reliance Q2 Robust Earnings
Reliance Industries posted a robust Rs 29,550 crore profit for the second quarter of the current fiscal.
Metric / Business Highlight | Performance / Details |
|---|---|
Quarterly Net Profit | Rs 29,550 crore (up 33.8% YoY) |
Profit Driver | Surge in global fuel margins (Oil-to-Chemicals business) |
Previous Year Profit (Same Period) | Rs 22,092 crore |
Net Profit Attributable to Owners | Rs 25,548 crore (up 40%) |
Consolidated Revenue | Rs 362,268 crore (up 27.8%) |
EBITDA | Rs 62,409 crore (up 23.9%) |
Previous Quarter Profit | Rs 23,196 crore |
Stock market Today
Sensex, the 30-share BSE index, skyrocketed 1,233.25 points or 1.66 per cent to close at 75,692.78. Nifty settled at 23,440.80, up 387.70 points or 1.68 per cent. A rally of over 11 per cent in Reliance Industries shares after the conglomerate posted record earnings for the second quarter of this fiscal year (Q2 FY27) emerged as a key trigger behind today's rally, on top of other factors.
Disclaimer: This story is for informational purposes only. It should not be considered investment advice.