Recently I’ve come across some news about Adani surpassed Elon musk in total wealth so I wanted to do a quick research about his wealth and came across the fact that his Adani Enterprises Ltd
NSE: ADANIENT
has a P/E ratio of roughly 375 and mkt cap of 3.75T while only having 0.03% div yield.
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Most certainly. But so is the business, he is almost akin to an oligarch whose fortunes are rooted to favors from the government. If the government changes or business environment weakens this will trigger a massive decline in adani group companies.
He was one of the earliest supporters of the current PM who won a second term. Has made bank every since the first term, was favoured by the government to head a couple of trade deals with other countries. I remember he was directly the beneficiary of a coal deal with Australian back in 2014-15. The dividend might be affected by the fact it is denominated in INR, which has been falling precipitously against the USD.