The Aditya Birla Group has entered into the big shot valuable conglomerate with a market cap of over $50 billion but the Tata Group still continue to be on top with a market cap of over $132 billion.
The Aditya Birla Group has entered into the big shot valuable conglomerate with a market capitalisation of over $50 billion with its recently listed financial services arm Aditya Birla Capital on 1 September. But the Tata Group still continue to be on top with a market capitalisation of over $132 billion. The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore ($53.5 billion) at the end of Friday’s trade. The recently listed Aditya Birla Capital was a rare instance of a company getting listed on the stock exchanges without an IPO for sale of equity shares.
Aditya Birla Group said in a statement this week that the IPO-less listing for its financial services business unit is the culmination of the composite scheme of arrangement, under which Aditya Birla Nuvo was merged with Grasim Industries, while its financial services business was spun off into a new company called Aditya Birla Capital. The newly-formed Aditya Birla Capital is now the holding company of the financial services businesses of the Aditya Birla Group. Among various listed companies of the group, UltraTech Cement’s valuation stood at Rs 1,10,097.70 crore at the end of Friday’s trade while that of Grasim Industries was Rs 76,881.73 crore.
The newly-listed Aditya Birla Capital’s market capitalisation was over Rs 55,000 crore, Hindalco (Rs 54,607.09 crore), Idea Cellular (Rs 32,064.91 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Aditya Birla Money (Rs 547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs 8,46,567 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 Rs 7,54,542.26 crore ($117 billion). The Mukesh Ambani-led Reliance group has a total market valuation of Rs 5,24,011.39 crore ($81.9 billion).
Meanwhile, shares of Aditya Birla Capital (ABCL) got listed on the bourses on Friday and later fell by 5 per cent 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 Rs 43,438.38 crore in their market valuation last week. In the ranking of top 10 firms, RIL is followed by TCS, HDFC Bank, ITC, HDFC, HUL, SBI, Maruti, IOC and Infosys.