Gautam Adani becomes world’s 2nd-richest person all of a sudden

News Network
September 16, 2022

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Mumbai, Sept 16: Indian industrialist Gautam Adani briefly became the world's second-richest person on the Forbes real-time billionaire tracker on Friday, weeks after becoming the first Asian to break into the top three.

The self-made billionaire's net worth surged $4 billion overnight to $154 billion, according to Forbes, ranking him ahead of LVMH's Bernard Arnault and Amazon's Jeff Bezos.

Tesla founder Elon Musk remained well out in front with a fortune of more than $270 billion.

Arnault -- who at times held the top spot in May 2021 -- and Adani traded the number two position during the day as the share prices of their companies fluctuated.

Adani, 60, made his fortune in ports and commodities trading and now operates India's second-largest conglomerate with interests ranging from coal mining and edible oils to airports and news media.

His ballooning net worth reflects a stratospheric rise in the market capitalisation of his publicly listed companies, as investors back the Adani Group's aggressive expansion of old and new businesses.

Shares in the flagship Adani Enterprises -- of which the billionaire owns 75 per cent -- have soared more than 2,700 per cent since March 2020, and doubled in value in the past six months.

Stock price surges in other group companies including Adani Transmission, Adani Power, Adani Ports and Adani Green Energy catapulted Adani past fellow Indian billionaire Mukesh Ambani this year.

Analyst estimates indicated the market capitalisation of Adani's seven listed companies also briefly overtook those of the Tata group on Friday morning, making the Adani Group India's largest conglomerate.

Born in the city of Ahmedabad in the western state of Gujarat to a middle-class family, Adani dropped out of college to work in the diamond industry before starting his export business in 1988.

In 1995, he won a contract to build and operate a commercial shipping port at Mundra in Gujarat, which has since grown to become India's largest port.

At the same time, Adani expanded into thermal power generation and coal mining in India and overseas.

In recent years, the conglomerate has forayed into petrochemicals, cement, data centres and copper refining, in addition to establishing a renewable energy business with ambitious targets.

Recent investments in Indian news media and a bid for 5G airwaves this year have raised speculation that the billionaire's empire could soon impinge on sectors dominated by Ambani's Reliance Industries.

But Adani's rapid expansion into capital-intensive businesses has also raised financial alarms, with Fitch Group's CreditSights last week reiterating that they "remain concerned over the Adani Group's leverage".

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News Network
May 2,2025

Mangaluru: Dakshina Kannada district has secured the top position in Karnataka in the SSLC (Class 10) results for the academic year 2024–25, with a pass percentage of 91.12%, as announced on Friday.

In the previous academic year (2023–24), the district had ranked second in the state with a higher pass percentage of 92.12%. Despite a 1% drop in the pass rate this year, the district has risen to the top position. In 2022–23, it had ranked 17th with 89.52%.

Deputy Director of Public Instruction (DDPI) Venkatesh S Patagar attributed the district’s improved rank to several focused initiatives. Among them were the timely completion of the syllabus by December 2024 and subject-wise special classes.

Special attention was given to slow learners through dedicated support classes. The department also organized fortnightly parent meetings to track students' academic progress.

To instill discipline and a consistent study routine, schools made regular wake-up calls to students in the mornings and evenings. Other initiatives included model question paper practice, the 'Jnana Sinchana' live YouTube series, online doubt-clearing sessions, and interactive radio phone-in programs.

Students were also encouraged to attempt the 'Vijayeebhava' question paper series, developed and published by the District Institute of Education and Training (DIET), Udupi.

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News Network
May 8,2025

New Delhi: The government is briefing an all-party meeting on Thursday on the success of "Operation Sindoor" and its aftermath, as top government functionaries and opposition leaders met for a second time in a fortnight amid rising tensions between India and Pakistan following the Pahalgam terror attack on April 22.

Union ministers Rajnath Singh, Amit Shah, S Jaishankar, J P Nadda and Nirmala Sitharaman represented the government, while Rahul Gandhi and Mallikarjun Kharge from the Congress, Sandip Bandyopadhyay of the Trinamool Congress and DMK's T R Baalu were among the leading opposition figures in the meeting.

Other opposition leaders included Ram Gopal Yadav of the Samajwadi Party, Sanjay Singh of the AAP, Shiv Sena (UBT)'s Sanjay Raut, NCP (SP)'s Supriya Sule, BJD's Sasmit Patra and CPI(M)'s John Brittas.

JD(U) leader Sanjay Jha, Union minister and LJP (Ram Vilas) leader Chirag Paswan and AIMIM MP Asaduddin Owaisi were also part of the meeting.

Parliamentary Affairs Minister Kiren Rijiju said the government wanted to brief all parties on "Operation Sindoor".

In retaliation for the Pahalgam terror attack, Indian armed forces carried out missile strikes early Wednesday on nine terror targets in Pakistan and Pakistan-occupied Kashmir, including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba's base Muridke.

The military strikes were carried out under 'Operation Sindoor' two weeks after the massacre of 26 civilians in Jammu and Kashmir's Pahalgam.

The government had earlier called an all-party meeting on April 24 to brief leaders on the attack.

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News Network
May 10,2025

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New Delhi, May 10: In a detailed joint briefing today, India’s defence and foreign ministries dismantled Pakistan’s claims of major strikes on Indian infrastructure and exposed Islamabad’s alleged attempts to escalate conflict along the border. Here's a clear breakdown of 12 crucial points made by Indian military officials:

1. Pakistan’s Claims Are False
The Indian government called Pakistan’s statements about destroying airbases, power grids, and cyber systems “completely false” and “state-sponsored propaganda.”

2. No Damage to Indian Airbases
Indian officials categorically denied Pakistani claims of hitting Sirsa, Suratgarh, and the S-400 radar base in Udhampur.

3. Pakistan Used Multiple Attack Platforms
Pakistan employed UCAVs (unmanned combat aerial vehicles), loitering munitions, long-range missiles, and fighter aircraft to target military and civilian sites.

4. Civilian Infrastructure Targeted
Pakistan struck schools and a Medicare centre near Indian Air Force bases in Srinagar, Awantipora, and Udhampur.

5. Over 26 Locations Attacked
India reported air intrusions and harassment attacks across 26+ locations from Srinagar to Naliya, along the Line of Control (LoC) and international border.

6. Limited Damage at IAF Bases
Minor damage occurred at four IAF stations: Udhampur, Patan, Adampur, and Bhuj — but all operations remain unaffected.

7. Heavy Cross-Border Shelling
Sectors like Kupwara, Baramulla, Poonch, Rajouri, and Akhnoor saw intense artillery, mortar, and small arms fire — all met with strong Indian retaliation.

8. Pakistan Moving Troops to Forward Areas – Signals Possible Escalation
The Indian Army observed significant Pakistani troop mobilisation toward forward posts along the LoC. This movement, described as “indicative of offensive intent,” suggests that Pakistan may be preparing for a wider military escalation. The Indian armed forces are on high operational alert, closely monitoring the situation and ready to respond to any provocation.

9. India’s Response: Swift, Measured, Targeted
In retaliation, India struck only military assets — radar stations, command centres, and storage sites — using precision air-launched weapons.

10. No Damage to Critical Indian Defences
Pakistan’s claims of destroying India’s S-400 systems, BrahMos base, and Chandigarh ammo depot were debunked with timestamped visual evidence.

11. Pakistan Trying to Spread Communal Discord
Indian officials accused Pakistan of fabricating stories to stoke communal unrest in India — calling such efforts "doomed to fail."

12. India Committed to Responsible Conduct
India reiterated its commitment to non-escalation — “provided Pakistan reciprocates.” Officials stressed that India’s military operations have been calibrated and proportionate.

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