Aditya Birla group market valuation crosses $50 billion mark2 min read . Updated: 03 Sep 2017, 02:27 PM IST
The Aditya Birla group has entered the top valuation league with a market cap of over $50 billion after the listing of financial services arm Aditya Birla Capital (ABCL)
New Delhi: The Aditya Birla group has entered the top valuation league with a market cap of over $50 billion post listing of financial services arm Aditya Birla Capital (ABCL), but the Tatas remain on top with over $132 billion. The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs3,42,354.87 crore ($53.5 billion) at the end of Friday’s trade.
Among various listed companies of the group, UltraTech Cement’s valuation stood at Rs1,10,097.70 crore at the end of Friday’s trade while that of Grasim Industries was Rs76,881.73 crore. The newly-listed Aditya Birla Capital’s market capitalisation was over Rs55,000 crore, Hindalco (Rs54,607.09 crore), Idea Cellular (Rs32,064.91 crore), Aditya Birla Fashion and Retail (Rs13,155.73 crore) and Aditya Birla Money (Rs547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs8,46,567 crore ($132.5 billion). There are 29 publicly-listed Tata group companies, including Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices and Titan.
The Tatas are followed by the HDFC group whose three listed companies have a combined market value of Rs7,54,542.26 crore ($117 billion). The Mukesh Ambani-led Reliance group has a total market valuation of Rs5,24,011.39 crore ($81.9 billion).
Meanwhile, shares of Aditya Birla Capital (ABCL) got listed on the bourses on Friday and later fell by 5 % to hit its lowest trading permissible limit for the day. The listing of ABCL is the culmination of the composite scheme of arrangement under which Aditya Birla Nuvo merged with Grasim Industries and the financial services undertaking was subsequently demerged into ABCL, the company had said in a statement.
Incidentally, not a single Birla group firm figures among the top 10 most valued individual companies of the country, where Mukesh Ambani-led RIL is on the top. Besides, two HDFC firms -- HDFC Ltd and HDFC Bank -- are also in top 10. Eight of the top-10 most valued companies together added ₹ 3,438.38 crore in their market valuation last week. RIL was the biggest gainer as its m-cap surged ₹ 13,641.72 crore to ₹ ,23,344.72 crore.
The valuation of IOC soared Rs9,760.37 crore to Rs2,17,641.66 crore and that of HUL jumped Rs7,956.01 crore to Rs2,63,135.56 crore. Maruti Suzuki India added Rs6,366.34 crore to Rs2,36,006.09 crore and ITC saw a gain of Rs2,678.56 crore to Rs3,45,433.49 crore. The m-cap of Infosys moved up by Rs1,745.7 crore to Rs2,11,344.05 crore and that of HDFC Bank went up by Rs733.91 crore to Rs4,55,388.27 crore.
HDFC added ₹ 55.77 crore at ₹ ,80,317.57 crore in its valuation. However, TCS’ valuation slumped ₹ 6,144.86 crore to ₹ ,71,527.32 crore and that of SBI was down by ₹ ,373.81 crore at ₹ ,39,712.04 crore. In the ranking of top 10 firms, RIL is followed by TCS, HDFC Bank, ITC, HDFC, HUL, SBI, Maruti, IOC and Infosys. Over the last week, both the Sensex and the Nifty surged 296.17 points, or 0.93%, and 117.35 points, or 1.19%, respectively.