Two Indian Billionaires and a Game of Cricket
https://www.washingtonpost.com/business/energy/two-indian-billionairesand-a-game-of-cricket/2023/03/02/67c03524-b93f-11ed-b0df-8ca14de679ad_story.html
Andy Mukherjee notes:
Ambani and Adani. The two billionaires have adopted different playbooks. While Adani went headlong into public utilities, Ambani has focused on private wants. Adani’s problem is that while Indians crave better roads, airports and more reliable power, most users lack the ability — or the willingness — to pay for the costly capital required to build new assets. In Ambani’s case, too, the underlying weakness, which has forced the refining and petrochemicals conglomerate to undertake a consumer pivot, is profitability. Reliance’s legacy business spews out cash, but it takes lumpy investments that don’t generate a high return on equity.
https://www.washingtonpost.com/business/energy/two-indian-billionairesand-a-game-of-cricket/2023/03/02/67c03524-b93f-11ed-b0df-8ca14de679ad_story.html
Andy Mukherjee notes:
Ambani and Adani. The two billionaires have adopted different playbooks. While Adani went headlong into public utilities, Ambani has focused on private wants. Adani’s problem is that while Indians crave better roads, airports and more reliable power, most users lack the ability — or the willingness — to pay for the costly capital required to build new assets. In Ambani’s case, too, the underlying weakness, which has forced the refining and petrochemicals conglomerate to undertake a consumer pivot, is profitability. Reliance’s legacy business spews out cash, but it takes lumpy investments that don’t generate a high return on equity.
Related:
Adani v Ambani: the battle of the tycoons
https://www.economist.com/business/2022/09/01/adani-v-ambani-the-battle-of-the-tycoons
https://www.economist.com/business/2022/09/01/adani-v-ambani-the-battle-of-the-tycoons