Gautam Adani's rise to world's second-richest boosts equities' clout

Indian billionaire Gautam Adani’s ascent to rank as the world’s second-richest person has helped fuel a world-beating jump in the nation’s stocks and bolstered their clout among emerging-market equities.
 

Eight firms controlled by Adani’s ports-to-power conglomerate, including recent cement acquisitions, have contributed more than a fifth of the 109-member MSCI India Index’s surge since end-June, data compiled by Bloomberg show. The index has outpaced Asian and emerging market peers during the period with a 12% jump.

Also Read | Ambuja to become India's most profitable cement company: Gautam Adani

The eight Adani stocks are also a part