M&As add value to Aditya Birla group investors

UltraTech remains the biggest gainer since the company began its M&As

As Kumar Mangalam Birla gets ready to merge his telecom business with Vodafone in a $21-billion transaction, his previous mergers and acquisitions (M&As) show that Birla group shareholders have gained in terms of market capitalisation, along with the general buoyancy in the stock market in the past year.

The Aditya Birla group companies have added around Rs 1.78 lakh crore to their total market capitalisation, nearly two and half times its cumulative spend on M&A during the last 10 years. 

While UltraTech remains the biggest gainer since the cement company began its M&As, Hindalco and Idea Cellular remain the laggards