At Rs 19.44 trn, Adani maintains lead over Mukesh Ambani in market cap

The Adani Group has overtaken Mukesh Ambani Group to become the country’s second biggest business group in terms of market cap behind Tatas.

Adani Group cos now have a combined m-cap of Rs 19.44 trillion against Ambani Group cos combined m-cap of Rs 17.89 trillion.

Tata Group leads the league table with the group market capitalisation of Rs 21.73 trillion on Monday.

The Adani Group companies, however, continue to out-perform firms from business groups and the broader market on the bourses by a big margin.

Adani group companies have added nearly Rs 10 trillion to their market capitalisation in the current calendar year compared to just Rs 1.61 trillion rise in the group cap of Mukesh Ambani companies including Reliance Industries, while Tata Group companies saw a decline in their combined m-cap during the year so far.

The combined m-cap of the seven listed Adani group companies has doubled year to date from Rs 9.62 trillion at end of December 2021 to Rs 19.44 trillion on Monday.

In the same period, the combined m-cap of the nine listed companies belonging to the Mukesh Ambani Group is up 9.6 per cent from Rs 16.33 trillion at the end of December 2021 to Rs 17.89 trillion on Monday.

In contrast, the combined m-cap of 26 listed Tata Group companies is down 6.9 per cent from Rs 23.36 trillion at the end of December 2021 to Rs 21.73 trillion on Monday.

For comparison, the BSE Sensex is up just 0.9 per cent year to date.

While all Adani group companies have out-performed the broader market in the current calendar year, Adani Power has seen the fastest rise in its share price.

Its market capitalisation is up 334 per cent year-to-date from Rs 38,473 crore at the end of December 2021 to Rs 1.67 trn on Monday.

It is followed by Adani Transmission whose market cap is up 103.6 per cent YTD from Rs 1.9 trillion to Rs 3.99 trillion on Monday.

Next is Adani Total Gas which saw a 96.7 per cent jump in its m-cap to Rs 3.7 trillion on Monday up from Rs 1.89 trillion at end of December 2021.

In comparison, Adani Ports & SEZ is a relative underperformer with just 19 per cent rise in its market capitalisation YTD from Rs 1.49 trillion at the end of December 2021 to Rs 1.77 trillion on Monday.

In all, there are now four Adani Group companies with market capitalisation of Rs 3 trillion or higher – the most among all business groups.

These are Adani Green (Rs 3.99 trn), Adani Transmission (Rs 3.88 trn), Adani Total Gas (Rs 3.7 trillion) and Adani Enterprises (Rs 3.48 trillion).

In comparison, there is just one company each in Tata, Mukesh Ambani and Rahul Bajaj Group with Mcap higher than Rs 3 trillion – Tata Consultancy Services (Rs 12.27 trn) ), Reliance Industries (Rs 17.63 trillion) and Bajaj Finance (Rs 4.3 trillion).

In all there are just 13 non-Adani group companies with market capitalisation higher than Rs 3 trillion on Monday.

This makes Adani group companies the most valued stocks on the bourses even ahead of the widely owned index stocks.

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