HDFC replaces Reliance as second most-valued corporate house
The financial services giant HDFC Group now commands a total market value of Rs 2.41 lakh crore -- -- the second highest among all the private sector corporate houses after salt-to-software conglomerate Tatas' Rs 4.42 lakh crore.
In comparison, the market value of Reliance Industries group currently stands at about Rs 2.36 lakh crore. The valuation of these groups has been derived after taking into account market values of all their listed companies.While Tatas have nearly 30 listed entities, RIL group has got two (Reliance Industries Ltd and Reliance Industrial Infrastructure Ltd) and HDFC group has three -- -- HDFC Ltd, HDFC Bank Ltd and Gruh Finance Ltd.
HDFC group has managed to replace RIL group as the second most valued group due to a surge in the share prices of its two key companies, HDFC Bank and HDFC Ltd, in the recent past.In comparison, RIL shares have been under pressure.In the past one month, HDFC Bank has gained nearly 7 per cent of value, while that of HDFC Ltd has also grown by about 3 per cent. On the other hand, RIL's valuation has fallen marginally in this time period.
The Tata Group's most valued company TCS has gained value in the past few days, but its share price is almost unchanged on a one-month basis. The other major companies from the group include Tata Motors, Tata Steel and Tata Power. All these four Tata group firms are part of the market barometer Sensex.
Expressing serious concern over the ongoing protests in Andhra Pradesh, following the nod for the creation of a separate Telangana State, the Communist Party of India (CPI) leader D Raja said that the Centre must address the genuine concerns of the people and assure them that their interests will be duly protected.
Date 06-12-13, Duration 2:11, Views 784