Adani Group is now second biggest in terms of total market capitalization of its companies

23 Aug 2022 , 10:00 AM

The Adani Group has surpassed the Mukesh Ambani Group to become the nation’s second-largest business group in terms of market valuation. Currently, Ambani Group Cos’ combined Mcap is Rs17.89 trillion, compared to Adani Group Cos’ combined Mcap of Rs19.44 trillion. With a total market cap of Rs21.73 trillion on Monday, Tata Group is in first place in the league table.

But the businesses in the Adani Group still perform significantly better than those in other business groupings and the overall market on the stock exchanges. The market capitalization of Adani Group companies has increased by nearly Rs 10 trillion in the current calendar year, compared to just Rs 1.61 trillion for Mukesh Ambani Group companies, including Reliance Industries, while Tata Group companies have seen a decline in their combined MCap thus far in the year.

From Rs9.62 trillion at the end of December 2021 to Rs 19.44 trillion on Monday, the aggregate MCap of the seven listed Adani group companies has increased by two times a year to date. The aggregate MCap of the nine publicly traded firms that are a part of the Mukesh Ambani Group has increased during this time by 9.6% from Rs16.33 trillion at the end of December 2021 to Rs17.89 trillion on Monday.

Only 13 non-Adani group companies had a market value on Monday that was greater than Rs 3 trillion. This places Adani Group firms ahead of the commonly held index equities as the most valuable stocks on the bourses.