Gautam Adani has reclaimed the title of Asia's richest person, overtaking Mukesh Ambani with a net worth of $92.6 billion as of April 16, according to the Bloomberg Billionaires Index. Adani now ranks 19th globally on that index. The shift marks a notable reversal of fortune for Adani, whose wealth and group companies came under severe pressure following the January 2023 Hindenburg Research short-seller report. The recovery is driven by a broad rebound in Adani Group stock prices across the conglomerate's listed entities. The gap between Adani and Ambani signals meaningful market re-rating of Adani Group equities. Investors will watch whether the stock momentum is sustained or whether regulatory scrutiny and debt concerns, which shadowed the group after the Hindenburg episode, resurface to test the recovery's durability.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
