Mumbai: All is not lost in the current bear run on Dalal Street, as close to half-a-trillion rupees have been added to investors’ wealth by over 100 companies, including blue-chips like Infosys, Cairn India, Satyam and Ranbaxy and also some little known smaller firms.
While a few of these companies have posted a growth of nearly two-or three-fold, many have seen their values growing more than 10% with an average surge of nearly 15%.
The stock market has been mostly on a downslide for close to six months now and the Sensex as well as total valuation has dipped by close to a third since 10 January.
The benchmark index, the Sensex, had scaled an all-time high of 21,206.77 points on 10 January before heading south, losing close to 8,000 points till date.
A number of large-cap companies have seen their valuations dip sharply — with a loss of close to Rs5 trillion by companies headed by the country’s five richest individuals — Mukesh and Anil Ambani, K P Singh, Azim Premji and Sunil Mittal. The net loss has been more than Rs25 trillion for all the listed entities in the country.
However, an estimated 114 companies have actually seen their market value grow during this period, shows an analysis of change in M-cap figures.
In absolute terms, these companies have seen their market capitalization grow by close to Rs46,000 crore to more than Rs3,54,000 crore.
However, just about 30 companies out of these have a market capitalization of more than Rs 1,000 crore and the growth has been mostly in single or double-digit percentage points for these firms.
In absolute terms, the biggest gain of close to Rs9,000 crore has been for Infosys, followed by over Rs5,000 crore for Sun Pharma and Ranbaxy. Besides, companies like Cairn India, Satyam, Glenmark Pharma and Sterling International have also seen a surge of about Rs2,000-4,000 crore.
Other major gainers in this period include Cipla, Nestel India, GlaxoSmithKline, REI Agro, Spice Communications and ICI India, BOC India and Temptation Foods.
In percentage terms, the growth has been relatively modest at about 10% for companies like Infosys, Cairn, Satyam and relatively better at 25-35% for Sun Pharma and Ranbaxy.
However, companies like Sterling International, Zandu Pharma, Khaitan Weaving, Sandur Manganese, Gujarat Foils, Champagne Vine, KLG Capital, Choksh Infotech and Rollatainers have seen a gravity-defying surge with their market values more than doubling in this period.