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.
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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.
Archana Puran Singh, a Bollywood actor, was injured during a film shoot in Mumbai. She fractured her wrist during the shoot and was taken to Nanavati Max Super Speciality Hospital. Singh apologised to Rajkummar Rao for leaving the shoot midway and expressed her gratitude for the surgery.
She also shared the visible swelling around her lips and the lessons she learned from the incident. Singh was discharged after the surgery and is now back at work. She was last seen in Vicky Vidya Ka Woh Wala Video, which starred Rajkummar Rao, Triptii Dimri, Mallika Sherawat, and Vijay Raaz. The film failed to perform well at the box office, collecting only ₹58.03 crore worldwide.
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Veteran actress Archana Puran Singh recently suffered a wrist fracture while shooting for her upcoming film alongside actor Rajkummar Rao. The incident occurred around 5 a.m. on the film set, leading to immediate medical attention. She was promptly taken to Nanavati Max Super Specialty Hospital in Vile Parle, Mumbai, where she underwent surgery for the injury.
Rajkummar Rao, known for his versatility and dedication to his craft, has expressed his concern and support for Archana during this challenging time. The two actors share a professional camaraderie, having previously collaborated on various projects. Their mutual respect and understanding have been evident in their past interactions.
Archana Puran Singh, a seasoned actress and television personality, has been a prominent figure in the Indian entertainment industry for decades. She is widely recognized for her roles in films such as “Kuch Kuch Hota Hai,” “Maine Pyaar Kiya,” and “Baadshah.”
In addition to her film career, she is a beloved judge on the popular television show “The Kapil Sharma Show,” She was promptly taken to for the injury. where her infectious laughter and warm demeanor have won the hearts of audiences.
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Rajkummar Rao, on the other hand, has established himself as one of the most talented actors of his generation. His performances in films like “Newton,” “Stree,” and “Roohi” have garnered critical acclaim and numerous awards. Known for his commitment to diverse roles and his ability to bring depth to his characters, Rajkummar continues to be a significant presence in the Indian film industry.
The upcoming film featuring Archana Puran Singh and Rajkummar Rao has generated considerable excitement among fans and industry insiders. Details about the film’s plot and release date are currently under wraps, but the collaboration between these two esteemed actors has piqued interest.
In the meantime, Archana is focusing on her recovery, following medical advice and undergoing necessary physiotherapy sessions. She has expressed gratitude for the support and well-wishes from her fans and colleagues. Her resilience and positive attitude during this period are commendable, and she remains committed to returning to work once she has fully healed.
The incident serves as a reminder of the physical demands and risks associated with the entertainment industry. It highlights the importance of safety measures on set and the need for prompt medical attention in case of injuries. Both Archana and Rajkummar have demonstrated professionalism and dedication, ensuring that the production continues smoothly despite the unforeseen circumstances.
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Fans eagerly await updates on Archana’s recovery and the progress of the film. The collaboration between these two talented actors is anticipated to bring a compelling and engaging story to the screen, further enriching the Indian film landscape.
For more insights into Archana Puran Singh’s journey and her experiences in the entertainment industry, you can watch the following video
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