Rs 1000 cr market cap league gets crowded

The bull run in the equity markets in the last six months has seen 18 more business houses join the Rs 1,000 crore-plus league in terms of market capitalisation.

This takes the total membership in the league from 49 business houses in June 2004 to 67 now.

The list of new entrants includes the Amtek, Kirloskar, M P Birla, Videocon, Welspun, Aptech, S P Oswal, Mittal, Mac and Nagarjuna groups.

In fact, the total market capitalisation of the Videocon, S P Oswal, Mac, Mittal and Nagarjuna groups has doubled in the last six months.

The Venugopal Dhoot-promoted Videocon group was the largest gainer in terms of market capitalisation, with the total market value of the four listed Videocon group companies increasing 272 per cent, from Rs 352 crore on June 23, 2004 to Rs 1,311 crore on December 22.

The share price of Videocon Industries has appreciated eight fold, from Rs 25.50 to Rs 217.75 in the last six months. Videocon International's scrip price has risen by 118 per cent, from Rs 31.10 to Rs 67.70 on the Bombay Stock Exchange (BSE).

Videocon Appliances and Videocon Communications are the other two group companies which have appreciated by more than 100 per cent during the same period.

The aggregate market value of three Nagarjuna group companies, namely Nagarjuna Agrichem, Nagarjuna Construction and Nagarjuna Fertilisers, has appreciated by 129 per cent, from Rs 527 crore to Rs 1,209 crore.

The share price of Nagarjuna Agrichem has increased by 275 per cent, from Rs 32.04 to Rs 120.05 and of Nagarjuna Constructions, by 203 per cent to Rs 404.80 (Rs 133.60) on the BSE.

The total market capitalisation of the S P Oswal group companies""Mahavir Spinning Mills, Vardhman Spinning and Vardhman Polytex ""has increased by 130 per cent, from Rs 544 crore to Rs 1,250 crore in the last six months.

The total wealth of eight Mac group companies has appreciated by 102 per cent, from Rs 566 crore to Rs 1,142 crore. The share prices of the five Mac group companies""SIC Agencies, SPEL Semiconductor, Tuticorin Alkalies, Manali Petrochem and SPIC""have appreciated more than 100 per cent during the period.

The aggregate market wealth of the Lakshmi group has appreciated by 104 per cent, from Rs 656 crore to Rs 1,338 crore during the period, and of the Amtek group by Rs 886 crore to Rs 1,799 crore, of the M P Birla group by Rs 679 crore to Rs 1,360 crore and Kirloskars by Rs 672 crore to Rs 1,491 crore.

The Raunaq Singh with Rs 986 crore market cap, D P Jindal (Rs 983 crore), Nahar (Rs 981 crore), Escorts (Rs 976 crore) and Chemplast (Rs 963 crore) are the other business houses headed towards the Rs 1,000 crore market capitalisation mark.