With the stock market crash,wealth of India?s top 25 industrial houses decreased by 11.7% to Rs 15,63,302 crore on January 21, 2008 from the level of Rs 17,70,261 crore on January 18,2008.
During this period, Sensex decreased by 1,408 points (7.41%) to close at 17605.70 on Monday from 19,013.70 on January 18, 2008.
Among the above 25 houses, Essar, Hinduja, BK Birla, Jaiprakash Gaur and Anil Ambani showed significant decline in terms of market capitalisation in the above period.
The M-cap of Essar group,which had the highest fall, decreased by 25.03% from Rs 40,975 crore on January 18,2008 to Rs 30,719 crore on January 21, 2008.
In the case of the Hinduja group, the total M-Cap of six units decreased by 18.56% to Rs 11,972 crore on Monday from Rs 14,701 crore on January 18, 2008.
Similarly, in the case of the BK Birla group, the total M-Cap figure of eight major companies decreased by 18.23% to Rs 11,386 crore on Monday from the level of Rs13,924 crore on January 18,2008.
The total market capitalisation of five Anil Ambani group companies decreased by 16.12% to Rs 2,45,360 crore on Monday from Rs 2,92, 529 crore on January 18, 2008. Among the Anil Ambani group companies, highest decrease in M-cap was seen in Reliance Capital (-19.43%), followed by Reliance Comm (-12.71%).
The study has analysed 25 major industrial houses. The closing share prices have been computed from the official price lists published by the BSE.