Tata group companies, Larsen & Toubro top mcap gainers in market boom

The construction and engineering major Larsen & Toubro (L&T), however, tops in terms of percentage gains as the company added an additional Rs 2.4 trillion, or 49.1 per cent

The Tata Group, among other Indian conglomerates, has been among the biggest beneficiaries in the year so far even as the BSE Sensex’s surge to its new peak of 70,000 on Monday.  The benchmark index hD cooled down from its high on Tuesday.

The group added Rs 6.1 trillion, or 28.5 per cent, to its companies’ total valuation at Rs 27.4 trillion since January 1 this year.

Construction and engineering major L&T, however, tops in terms of percentage gains as the company added Rs 2.4 trillion, or 49.1 per cent to its total market valuation during the year.

With this, L&T Group companies were the largest value creator for shareholders at Rs 7.2 trillion in 2023 so far, according to data sourced from Bloomberg and Capitaline.
 

Tata companies’ good show in the stock market is attributed to rising sales of Tata Motors, Titan and Tata Consultancy Services, which saw a significant gain in their share prices.

L&T, on the other hand, along with its other companies like LTIMindTree and L&T Finance Holdings have seen a significant growth in market value.

While Adani Group companies lost Rs 5.5 billion, or 28 per cent, of market valuation since January this year, Mukesh Ambani Group companies gained 4.5 per cent of valuation to Rs 18.4 trillion.

Mukesh Ambani, Chair of Reliance Industries, continues to be the richest man in India, followed by Gautam Adani, Chair of Adani Group.

Adani Group companies’ shares are on a recovery path with massive gains in the last one month, thus adding to Adani shareholders’ wealth. Its group companies’ rise in market valuation is due to 47 per cent growth in earnings before interest, tax, depreciation, and amortisation (Ebitda) to Rs 43,688 crore.

These companies reported their highest-ever cash balance of Rs 45,895 crore at the end of September.