Stock in Focus

The wealth of several Indian billionaires saw significant growth despite pronounced market volatility in the first half of 2025, with foreign and retail investors largely staying on the sidelines and mutual funds maintaining elevated cash levels amid geopolitical tensions and richly valued equity markets. Satyanarayan Nuwal, Co-founder and Chairman of Solar Industries India, recorded the highest surge in wealth during this period, with his net worth soaring by over 78 percent to $7.90 billion, according to Bloomberg Billionaire Index data. Solar Industries, headquartered in Nagpur, manufactures explosives, detonators, drones, and ammunition. The company's stock jumped 81 percent in 2025, following gains of 45 percent in 2024 and 54 percent in 2023.