Top firms health betters on wealth

Written by Pradip Kumar Dey | Mumbai, Jan 5 | Updated: Jan 6 2008, 06:21am hrs
Wealth consolidation seems to be one the focus areas of India Inc in the past year. The collective wealth of the countrys top 25 industry houses increased by a whopping 76.4%, to touch Rs 19,89,619 crore as on January 4, 2008, from the level of Rs 11,28,028 crore on January 4, 2007.

The Mukesh Ambani group has pipped the Tata Group to move to the top slot up from the second rank in January 2007. During the past one year, the Mukesh Ambani group added Rs 3,32,821 crore in its wealth. Sibling Anil Ambani, also in the market capitalisation race, saw its rank improve from third to second. The Tata Group slipped from the first position the third.

The total market capitalisation of three Mukesh Ambani group companies increased 154.6% to Rs 5,48,145 crore on January 4, 2008, from the level of Rs 2,15,323 crore on January 4, 2007. Among the Mukesh Ambani group companies, Reliance Industrial Infrastructure registered the highest increase (381.6%) in M-cap followed by Reliance Petroleum (288%).

In terms of the percentage rise, Essar, OP Jindal, Jaiprakash and ADAG showed the best performance. The M-cap of Essar Group grew the highest by around 469.38%, from Rs 8,076 crore on January 4, 2007 to Rs 45,986 crore on January 4, 2008. Among Essar Group companies, Essar Oil posted a significant increase (507.73%) in M-Cap.

The overall M-cap of seven OP Jindal group companies increased 380.62%, to Rs 83,718 crore from Rs 17,419 crore last year. Among the OP Jindal group companies, significant increase in M-cap was seen in the case of Jindal Steel & Power (649.2%).

The study has analysed 25 major industrial houses. The closing share prices have been computed from the official price lists published by Bombay Stock Exchange between January 4, 2008 and January 4, 2007.

Among other groups studied, more than 50% increase in M-Cap was seen in the case of Anil Ambani (151.2%), Torrent (146.2%), UB (128.5%), Goenka R P (86.9%), Godrej (78.9%) and Thapar Brij Mohan (71.9%).