Ever since BJP declared Modi as the party’s prime ministerial candidate on September 13 last year, the total market capitalization of the three listed Adani group companies — Adani Enterprises, Adani Port and SEZ Ltd and Adani Power — has risen by 85.35% to clock over Rs 95,925 crore. In comparison, the Sensex grew by just 14.76% during the period.
With an estimated group net worth of Rs 25,000 crore, Adani presides over an empire spanning coal, power, logistics, real estate, agro-products, oil and gas. The group, which employs 10,000 people, built the country’s largest private port and has also emerged as the top private power producer in the country.
Adani cultivated friends in the UPA and other parties to expand his power business to Haryana, Maharashtra, Madhya Pradesh and Rajasthan, besides bidding for ports in Orissa, Andhra Pradesh and Tamil Nadu.
Adani never tried to hide his close ties with Modi even after the NDA government was voted out in 2004.
Most of his imports and exports were through Kandla port in Kutch.