Adani Group became India's third conglomerate to cross $200 billion in market capitalisation. Shares of five of the conglomerate’s seven listed companies soared to all-time highs on Thursday.

According to analysts, stock prices of Adani Group firms surged after they expanded and diversified into multiple businesses leading to earnings visibility in the future.

So far this year, Adani Power Ltd surged 157 percent, Adani Total Gas Ltd 50 percent, Adani Green Energy Ltd 67 percent, Adani Transmission Ltd 51 percent, Adani Ports and SEZ 17 percent and Adani Enterprises Ltd gained 28 percent. Adani Wilmar Ltd was listed in February with an issue price of Rs 230 a share. Since then, it has climbed 180 percent.

The total market cap of the seven listed Adani Group companies stood at $201 billion, according to BSE data. Earlier, Tata Group and Mukesh Ambani led-Reliance Group achieved this milestone. Tata Group's current market cap stands at $320 billion, while the RIL Group is valued at $237 billion at current market prices.

Five firms in the Adani Group have a market cap of over Rs 1 trillion, while two of them, Adani Power Ltd and Adani Wilmar, have a market cap of Rs 98,000 crore and Rs 82,000 crore, respectively.
-MoneyControl