This even beats the growth curve of the Senex, which grew 4640.63 points, or 35%, during this period to touch 17578.72 on Friday, from last Budget days 12,938.09.
Among the 25 houses studied by FE, Essar group, OP Jindal group and the Anil Dhirubhai Ambani Group (ADAG) showed strong performances, especially in terms of market capitalisation. The market capitalisation of the Essar group, which recorded the highest increase, grew 360.63% from Rs 8,264 crore on February 28,2007 to Rs 38,065 crore on February 29, 2008. Among the Essar group companies, significant increase in market capitalisation was seen in the case of Essar Oil, which recorded a 377% climb.
In the case of the OP Jindal group, the total market capitalisation of its seven units increased 247.18% to Rs 60,784 crore on February 29,2008 from Rs 17,508 crore on February 28, 2007. Jindal Steel & Power with a 590.8% growth recorded the most significant increase within the group.
Similarly, in the case of ADAG, the total market capitalisation figure of its six major companies increased 177.37% to touch Rs 3,23,228 crore on February 29,2008 from Rs 1,16,531 crore on February 28, 2007. Among the six firms, significant increase in market capitalisation was seen in the case of Reliance Energy, which recorded a 227.1% growth.
The study has analysed 25 major industrial houses. The closing share prices have been computed from the official price lists published by The Stock Exchange Mumbai for the period February 29, 2008 and February 28, 2007.
The Mukesh Ambani Group improved its rank since last years Budget adding Rs 2,10,684 crore in its wealth.