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Largely unaffected by the recent carnage in stock markets, salt-to-software conglomerate Tata Group is closing in on to become the country's first business house to attain a market valuation of Rs 6 lakh crore.
The cumulative market capitalisation of all 32 listed companies of the Tata group has risen to nearly Rs 5.90 lakh crore as on Friday-- the highest for any business house in the country and almost double the market value of the second ranked Mukesh Ambani-led Reliance Industries Group.
The total market value of Tata group exceeds the combined market capitalisation of at least three leading business houses in the country -- Mukesh Ambani-led RIL group (about Rs 2.75 lakh crore), Kumar Mangalam Birla-led Aditya Birla Group (about Rs 1.5 lakh crore) and Anil Ambani-led Reliance Group (about Rs 62,000 crore).
Interestingly, the Tata group's market value has grown substantially over the past one year, including in the past few months when the overall stock markets have been facing strong headwinds and have lost value.
In the past three months, the Tata group's valuation has grown by over Rs 80,000 crore or over 15 per cent, while the total valuation of Indian markets has actually fallen by about 10 per cent during the same period, shows an analysis of data available from stock exchanges.
Tata group, which saw a change of leadership late last year from Ratan Tata to Cyrus Mistry, has seen its valuation growing by over Rs 1 lakh crore since the beginning of this year.
On the other hand, valuations of many other large groups have remained either flat or have fallen in the recent months amid a huge volatility in stock markets.
While Tatas have the largest number of listed companies among major business houses in the country, RIL alone used to command a market value of over Rs 4 lakh crore a few years ago as the country's most valued company.
However, this position is now occupied by Tata group firm TCS (Tata Consultancy Services) with a market cap of close to Rs 3.96 lakh crore.
In comparison, RIL's market cap currently stands at about Rs 2.75 lakh crore, while its