Gautam Adani (File Photo: PTI)
The results of the Maharashtra Assembly elections have come to light. It seems that a grand alliance government with a large majority is being formed in the state. Although it has not yet been decided who will take oath as the Chief Minister of the State. There is one more question here: Will good days come for Gautam Adani after this win? This question is also important because Gautam Adani was a major topic during the elections. Something that the opposition had tried to take advantage of. Opposition leaders had even said that if their government was formed in Maharashtra, all Adani projects would be cancelled. In which Dharavi Redevelopment Project is very important.
Furthermore, following the report from the US Department of Justice and the news of the arrest warrant, there was a huge drop in stocks on Thursday. There was definitely a recovery on Friday, but stocks continued to fall. Will these stocks also see an increase after the formation of the Mahayuti government? Let us try to understand why the victory of Maharashtra has become important for Gautam Adani and how Gautam Adani can benefit from it.
Mahayuti wins in Maharashtra, Adani shares the focus
When the stock market opens on Monday, Adani Group shares will be in the spotlight. It is estimated that the effect of victory in Maharashtra under the leadership of Mahayuti i.e. BJP can be seen in the actions of Gautam Adani. Good rise can be seen in shares of Adani Enterprises, Adani Port and SEZ, Adani Power, Adani Green Energy, Ambuja Cement, ACC Limited. Before that, following the news from New York on Thursday, there was a big drop in Adani Group shares. While a recovery in company stocks was definitely seen on Friday, a drop was seen in the stocks of some companies. A bullish atmosphere will be seen in Adani stock on Monday.
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Big relief for Dharavi project
After Mahayuti’s victory, Adani got a huge relief in the Dharavi project. As we told you, the issue of handing over the Dharavi Redevelopment Project to Gautam Adani remained hot during the elections. Rahul Gandhi and Uddhav Thackeray were seen continuously cornering the state and the central government by keeping Gautam Adani at the centre. From the way the results are showing in favor of Mahayuti, it has become clear that common people have no problem with Adani in the Dharavi issue. Gautam Adani will be able to quickly start working on the Dharavi project in the coming days. This total project is worth Rs 20 billion. In which 80 per cent stake belongs to Gautam Adani. While the proportion is 20 percent. Around Rs 5,100 crore will be spent in the first phase.
How much wealth decreased in two days?
Due to the fall in Adani Group’s shares on Thursday and subsequently on Friday, there has been a huge drop in Gautam Adani’s net worth. According to Bloomberg Billionaires Index data, Gautam Adani has suffered a loss of $14.7 billion i.e. Rs 1.24 lakh crore in two days. After which Gautam Adani’s total wealth rose to $70.8 billion. So Gautam Adani has been left out of the list of top 20 billionaires in the world. When there is a rise in the stock market on Monday, then Adani’s wealth may also increase. This means that Mahayuti’s victory has been very big for Gautam Adani.
