ADANI ENTERPRISES LTD (AEL), the flagship company of the diversified Adani Group whose interests span airports, ports, energy, and data centres to FMCG, will complete 30 years of being listed in November 2024. It is the oldest pureblood Adani Group firm on the bourses—excluding the much-older ACC and Ambuja Cements that the conglomerate acquired in September last year—and was listed a couple of years after Business Today began its annual BT500 study in 1992.
While AEL and the other listed firms of the Adani Group—Adani Green Energy, Adani Total Gas, Adani Energy Solutions, Adani Ports and Special Economic Zone, Adani Power, Adani Wilmar and the acquired cement entities, Ambuja Cements and ACC—have had their share of ups and downs on the bourses, the past one year has been one of the most tumultuous.
The latest edition of the BT500 list—based on the average market capitalisation (m-cap) for the 12-month period between October 1, 2022, and September 30, 2023—shows that barring AEL, Adani Power and Ambuja Cements, all other group firms have seen their rankings dip when compared with last year. Let us start with
