NEW DELHI: The only Indian tycoon whose net worth is unscathed as the deadly coronavirus roils markets worldwide can thank nation’s hoarders with millions scrambling to stock up on staples amid the world’s biggest isolation effort.
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The net worth of Radhakishan Damani, who controls Avenue Supermarts Ltd, has surged 5% this year to $10.2 billion, singling him out as the only billionaire with gains among the 12 richest Indians whose wealth is tracked by the Bloomberg Billionaires Index. Shares of Avenue Supermarts, which contribute nearly all of the wealth to Damani’s net worth, have advanced 18% this year.
Damani, who was raised in a one-room apartment in a Mumbai tenement block, has seen his wealth swell at a time when a stocks rout has shaved more than 32% off the net worth of his billionaire compatriots Mukesh Ambani and Uday Kotak on fears that the pandemic wil
