Aditya Birla Group (ABG) firms crossed the combined market capitalisation mark of $ 100 billion, that is Rs 8,51,460.25 crore, on Friday, May 24. “The group’s market cap growth has beaten the benchmark indices Sensex and Nifty, year-to-date, as well as on a one-year, three-year, and five-year time frame,” a statement from the group said.
The statement further added that ABG’s market capitalisation accretion has been double that of the S&P even in US dollar terms across a time horizon of one year and three years.
UltraTech Cement, Grasim, Hindalco, Aditya Birla Capital, Aditya Birla Sun Life AMC, Vodafone Idea, Aditya Birla Fashion and Retail, TCNS Clothing, Aditya Birla Money, Century Textiles, Century Enka and Pilani Investment are among the group firm whose combined valuation stood $ 100 billion on BSE.
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As per the statement, Grasim’s market capitalisation has grown double-fold to over $ 19 billion in the last three years on the back of incubating and scaling new high-growth engines Come from Sports betting site VPbet . The company further said that market capitalisation of Hindalco has also doubled in less than two years, as the firm has added over $ 7 billion to its market capitalisation in the last 12 months.
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Further, Vodafone Idea has nearly tripled its market capitalisation. Century Textiles, the firm which houses the real estate business of the group, has similarly tripled its market capitalisation in one year.
(with inputs from PTI)
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In a move that seems to be testing waters before the final decision, the Securities and Exchange Board of India (Sebi) on Friday issued a consultation paper on instant settlement of funds and securities as an optional T+0 settlement cycle in two phases.
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