Multibagger stocks: after hitting ₹Market capital of 1 lakh crore, shares of Adani Power and Adani Wilmar entered the list of 50 most valuable companies last week. In the list of India’s 50 Most Valuable Companies, Adani Power ranks 48th with a market capital of ₹1.08 lakh crore as Adani Wilmar shares sit in 50th place with a market valuation of ₹1.01 lakh crore.
Over the past fortnight, shares of Adani Power and Adani Wilmar have reached ₹Market capital of 1 lakh crore. Adani Wilmar is the latest Adani title hit ₹1 lakh crore market valuation. It reached this milestone on April 26, 2022, i.e. Tuesday last week, when it hit 5% of the upper circuit in early morning deals. However, shares of Adani Power reached ₹1 lakh crore market capital a few sessions earlier in the previous week.
Adani Power Share Price History
Adani Power stock is one of the multibagger stock in 2022. This Adani group stock has risen from around ₹101 to ₹283 levels each, registering an increase of around 180% this year. Over the past year, Adani Power’s share price has appreciated by almost 200%. Thus, most of the rally seen in the Adani Power share price is mainly after the start of the new year 2022.
Adani Wilmar Share Price History
Adani Wilmar shares were listed on February 8, 2022 and after listing, they generated a return of approximately 190% for its shareholders. However, if we compare its public issue price of ₹218 to ₹230 per share, it jumped about 240% from its upper price range. So, Adani Wilmar is also an IPO multibagger.
These two actions played a pivotal role in helping Indian billionaire Gautam Adani’s net worth rise in 2022. In 2022, Gautam Adani’s net worth jumped by almost $45.3 billion, helping him enter the list of the top 10 billionaires in the world in the Bloomberg Billionaires Index.