Meet Indian billionaire who beat Mukesh Ambani, Gautam Adani by making bombs and ammo; his wealth rose by 78% due to..., net worth is Rs...
Mukesh Ambani and Gautam Adani and the top richest individuals in India, however, a surprise entrant has earned more wealth than the Reliance Industries chairman and the Adani Group boss in the first half of the current fiscal year. No, its not any of the usual culprits like Narayana Murthy, Shiv Nadar or Azim Premji, the man we are talking about is billionaire Satyanarayan Nuwal, the co-founder and President of Solar Industries India. Who is Satyanarayan Nuwal?
Satyanarayan Nuwal is the co-founder of Solar Industries India, a company he established in 1995, initially to trade in industrial explosives, before venturing in the manufacturing of the same.
At the age of 18, Satyanarayan Nuwal, the son of a middle-income government employee, started his first business, and later set up Solar Industries India, which currently has 25 manufacturing plants across India and exports ammunition and explosives to more than 50 countries around the globe.
A major chunk of the company's annual revenue comes from global exports, followed by housing and infrastructure, state-owned coal companies and the defense sector, according to Forbes.
The Nagpur-based firm manufactures detonators, explosives and ammunition at its 25 facilities across India. How Satyanarayan Nuwal's net worth increased by 78% in 2025?
According to the Bloomberg Billionaire Index, Satyanarayan Nuwal currently has a net worth of $7.90 billion as his wealth surged by a whopping 78 percent in the first half of 2025, surpassing heavyweights like Mukesh Ambani and Gautam Adani. The primary reason for the astonishing rise in Nuwal's fortune is the rapid increase in the stock prices of Solar Industries India, which rose 45 percent in 2024, and 54 percent in 2023.
However, the Nuwal's company's is witnessing its best year in 2025 as its share prices have jumped 81 percent in the first half. Who earned how much in 2025?
As per Bloomberg, the total wealth of Satyanarayan Nuwal increased by a whopping 78.4 percent during the first half of this year to reach $7.9 billion, while telecom tycoon Sunil Mittal witnessed 27.3 percent rise in his fortune, taking his total wealth to $30.4 billion.
The net worth of London-based Indian steel magnate Lakshmi Mittal jumped to $24.8 billion, an increase of 26.1 percent, while billionaire Rahul Bhatia's fortune surged by 24.9 percent, reaching $10.8 billion.
Mukesh Ambani, Asia's richest man, saw a jump of 21.9 percent in his total wealth and has a current net worth of $110.5 billion, while Gautam Adani, India's second-richest individual has a net worth of $85.4 billion, after an increase of 8.5 percent in the first six months of 2025, according to Bloomberg.
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Mint
35 minutes ago
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India makes a push for cheaper foreign loans in yen, rupee
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Queries emailed to the spokespersons of India's finance ministry, World Bank, AIIB, IMF and Exim Bank remained unanswered. 'India is expected to expand its yen exposure further as part of a calibrated shift to longer-tenure, lower-cost financing to mitigate exchange rate risks. It will also explore greater use of the domestic currency. However, the dollar will remain dominant in the medium term, given its role as the principal global reserve currency," the official cited earlier said. According to the Reserve Bank of India (RBI) data, yen-denominated liabilities rose to 6.2% of India's total external debt at the end of March 2025, up from 5.8% a year earlier. In absolute terms, this equals $45.6 billion out of the total $736.3 billion in external debt at the end of FY25. India's total external debt rose 10% in FY25. The US dollar still dominated India's external borrowings, accounting for 54.2%, followed by the Indian rupee (31.1%), yen (6.2%), SDR (4.6%), and the euro (3.2%). 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Time of India
an hour ago
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Time of India
an hour ago
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Tata Power plans to contest Rs 4k-cr Singapore arbitral order
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