Aditya Birla group’s m-cap hits $50bn, Tatas tops chart

New Delhi, Sept. 3: The Aditya Birla group has entered the top valuation league with a market cap of over $50 billion following the listing of financial services arm Aditya Birla Capital (ABCL), but Tatas remain on top with over $132 billion.

The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at `3,42,354.87 crore ($53.5 billion) at the end of Friday’s trade.

Among various listed companies of the group, UltraTech Cement’s valuation stood at `1,10,097.70 crore at the end of Friday’s trade while that of Grasim Industries was `76,881.73 crore.

The newly-listed Aditya Birla Capital’s market capitalisation was over `55,000 crore, Hindalco (`54,607.09 crore), Idea Cellular (`32,064.91 crore), Aditya Birla Fashion and Retail (`13,155.73 crore) and Aditya Birla Money (`547.71 crore).

Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about `8,46,567 crore ($132.5 billion). There are 29 publicly-listed Tata group companies, including Tata Steel, Tata Motors, TCS, 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 `7,54,542.26 crore ($117 billion).

The Reliance group has a total market valuation of `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 `43,438.38 crore in their market valuation last week.

RIL was the biggest gainer as its m-cap surged `13,641.72 crore to `5,23,344.72 crore.