New Delhi: Many lives have been lost due to the Russia-Ukraine war. But this is not the only effect of the war, which has pushed up the prices of many commodities. Which is making the person suffer more. Not only that, many rich people have also suffered losses. But the two richest men in India, Adani and Ambani, have benefited from the Russia-Ukraine war instead of losing.
The Russia-Ukraine war has been going on for months. As a result, prices of many commodities are rising. It has pushed up prices of many commodities, from grains like wheat to crude oil and coal. The increase in these items has been a boon for two of India’s top businessmen, Gautam Adani and Mukesh Ambani.
Both are investing in green energy
According to sources, both Adani and Ambani have recently announced major investments in green energy. Together they are going to invest $ 142 billion in the green energy sector over the next few decades. Announcing the investment, both the businessmen said that green energy would be an alternative to coal and crude in the future. After the Russia-Ukraine war has set fire to coal and crude oil prices, both businessmen are taking full advantage of it.
Adani thus took advantage of the price hike
Apart from this, the ongoing war between Russia and Ukraine has led to increase in prices of everything from grains like wheat to crude oil and coal. To take advantage of skyrocketing coal prices, Gautam Adani is increasing the capacity of his regular coal mines in Australia to meet the growing demand and increase their profits.
In this way Ambani benefited
On the other hand, Mukesh Ambani’s company is making a profit from crude oil. Reliance Industries Limited (RIL) produces crude oil by buying trapped crude oil at a discount and refining it at their refinery. Reliance Industries Ltd’s Jamnagar refinery is the largest in the world. Ambani’s company is reaping the highest margins on diesel and petrol in the last three years. And increasing wealth.
How did both the businessmen benefit from the changed situation?
Adani Enterprise Ltd’s profit rose 30 per cent in the March quarter on the back of rising coal prices. The company’s profit was the highest in the last six quarters. Similarly, the rise in petroleum prices has led Reliance Industries to its highest profit ever in the March quarter.
The net worth of Adani-Ambani has increased so much
Shares of Adani Enterprise rose 42 per cent and Reliance Industries 19 per cent by the end of April, after Russia invaded Ukraine on February 24. Shares of the two companies also fell after the April sell-off. According to reports, Adani’s net worth has increased by about $ 25 billion since the start of the war between the two countries. Similarly, Mukesh Ambani’s net worth has increased by about $ 8 billion.
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