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Mukesh Ambani and Gautam Adani are at a crossroads in their battle
Adani, the world’s sixth richest man, has increased his fortune by nearly $30 billion this year, more than any other billionaire. His net worth of $106 billion is less than half that of Tesla Inc. co-founder Elon Musk, but it is $10 billion higher than that of Ambani. While both would like markets to reward them for writing India’s renewable energy future, what’s ticking for them right now is all the polluting stuff that’s in short supply: coal, palm oil, gasoline, and construction materials. Adani is favoured by investors simply because he is the more daring of the two.
With his $27 billion fundraising in the middle of the 2020 Covid-19 disruption — first from the likes of Facebook (now known as Meta Platforms Inc.) and Alphabet Inc. for his digital business and then from Silver Lake Partners, KKR & Co. Inc. and others for his retail chain — Ambani, who turned 65 last month, was the toast of the global M&A market. Adani, who will celebrate his 60th birthday next month as India’s newly anointed cement king after purchasing Holcim Ltd.’s business in the country for $10.5 billion, appears to have inherited that zeal.
According to Bloomberg News, Adani has spent $17 billion on 32 acquisitions in the last year and shows no signs of slowing down, despite the fact that his listed companies’ combined net debt is nearly $20 billion, or more than four times annual earnings before interest, taxes, depreciation, and amortisation (Ebitda). In a tightening global interest-rate cycle, that’s a lot of leverage to carry.
Compare this to Reliance Industries Ltd NSE 1.00 percent, Ambani’s flagship. Its planned annual capital expenditure is estimated to be $13 billion. However, as competition in India’s telecoms market has dwindled, the data Ambani sells has become more expensive. The state-mandated price cap on the natural gas he produces in India has risen by 62 percent. The world’s largest refinery complex, in Jamnagar, is benefiting from a fuel shortage. All of this could keep Reliance’s net debt-to-Ebitda ratio at 0.7 this fiscal year, according to Fitch Ratings, which rates the conglomerate’s foreign-currency creditworthiness at BBB, one notch above India’s sovereign debt.
Ambani’s fortress-like balance sheet, however, isn’t exactly igniting the stock market: The Reliance NSE 0.96 percent stock, which reached a high of 29 times forward 12-month earnings in 2020, is now trading at a multiple of 21. Adani Enterprises Ltd NSE -0.05 percent, which closed the valuation gap with Reliance around Prime Minister Narendra Modi’s reelection in 2019, now trades at a PE ratio of 124.
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Recalling how Amrita Singh prevented Saif Ali Khan from endorsing his movie Pehla Nasha, Deepak Tijori “I was shocked by it.”
Recently, Deepak Tijori revealed some startling trivia about his 1990 film Pehla Nasha. He remembered when Saif was urged not to promote the film by Amrita Singh.
Tipppsy, the next film directed by Deepak Tijori, marks his return to directing. The actor-director is never afraid to speak openly about his colleagues. In a recent Zoom TV interview, Deepak remembered that Amrita Singh had previously advised Saif Ali Khan not to back Deepak’s movie Pehla Nasha.
In addition to starring in several films in the 1990s with Shah Rukh Khan, Rahul Roy, and Aamir Khan, Deepak also portrayed the lead in Pehla Nasha. The actor revealed that there was a scene in the Ashuotsh Gowariker-directed movie when Saif, Rahul Roy, Aamir Khan, and Shah Rukh Khan made cameo appearances.
According to Deepak Tijori, Amrita Singh prevented Saif Ali Khan from endorsing his movie.
When asked if Bollywood performers were friendly at parties but did not promote one other’s films, he responded, “Yeah, I guess I could probably tell you a personal experience.” I am referring about 1993 here. We were working on a movie named Pehla Nasha back in 1993. Surprisingly, there was a moment in the movie when everyone wants celebrities to attend a character’s debut. We had buddies, and the director was Ashutosh Gowariker. Therefore, I was taken aback when this particular occurrence occurred.”
According to Deepak, Amrita advised Saif not to back him.
He went on, “It seems that Shah Rukh Khan, Saif Ali Khan, and Aamir Khan were on their way.” Thus, Saif was reading, and this was similar to his interpretation of it when he got ready at home. Amrita Singh, his former spouse, questioned him, “What are you doing?” To what destination are you heading? “I’m heading to a premiere,” he declared. I’m heading out to shoot. I’m going to be involved with Deepak’s debut. “Really?” was her question. In what way is this possible? You know, we never did all these things. Who takes this action? similar to when you go and help someone on a premiere. That was a moment, then, and I was shocked by it. Evidently, something didn’t truly exist back then (days).
Concerning Pehla Nasha
Concerning Pehla NasPehla Nasha was a mystery-thriller for the uninitiated. Paresh Rawal, Pooja Bhatt, and Raveena Tandon all had significant parts in the film. The 1984 thriller Body Double by Brian de Palma was remade in this film. In addition to Juhi Chawla and Sudesh Berry, Shah Rukh and Saif also made cameo appearances in the movie as themselves
In Deepak’s new movie Tipppsy, a bunch of females attend on a bachelorette party, but as they become drunk, things go wrong. Important parts are played by Alankrita Sahai, Natasha Suri, Kainaat Arora, and others in the film. Tipppsy will be available on May 10.
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Recalling how Amrita Singh prevented Saif Ali Khan from endorsing his movie Pehla Nasha, Deepak Tijori “I was shocked by it.”
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Announcing a new film with Ravi Kiran Kola, Vijay Deverakonda poses for a picture: Together, we’ll produce an exciting movie.
Recalling how Amrita Singh prevented Saif Ali Khan from endorsing his movie Pehla Nasha, Deepak Tijori “I was shocked by it.”
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