Mukesh Ambani slides down, Dilip Sanghvi on top

As far as common man knows about the figures and ladders in the business, Reliance Group’s Mukhesh Ambani stands on the top as the richest Indian. But the changed figures make him go to the second place while Sun Pharma Group’s promoter Dilip Shangvi climbs up the ladder to be the richest Indian at present.

On Wednesday, Sun Pharma Research (SPARC) and Ranbaxy hit new highs in the stock market and henceforth Dilip Shanghvi replaced Mukesh Ambani. Though Ranbaxy’s merger with Sun Pharma is yet not completed, Dilip Shangvi’s net worth (Rs.1.4 lakh crore) was a little more than Mukesh Ambani’s net worth of Rs.1.3 lakh crore after Wednesday stock market gains by the Sun Pharma Group.

SPARC received US FDA approval for a product which is to be manufactured at Sun’s facility in Halol. This has initiated the gain in the stock market for Sun Pharma Group and buying in all the Sun Pharma companies. The stock of the group gained by a whooping 6.6% to a new high of Rs.1,035 and then leading it to Rs.2 lakh crore market capitalisation club.

Ranbaxy is on line and Sun also confirmed the acquisition of GlaXoSmithKline which strengthened the market of Sun Pharma Group by 14% and presently trading at over 34 times compared to its earnings in the last four quarters. Shanghvi’s networth stands at $21.5 billion while Mukesh Amabni’s at $20.4 billion as per the latest stats.