Adani pips Tatas to emerge India’s most valued group

At the close of market on Friday, Adani Group companies, including the newly-acquired Ambuja and ACC, had a combined market capitalisation Rs22.25 lakh crore against the total market value of all Tata Group firms of Rs20.81 lakh crore. 

On Friday, the nine listed firms of Adani group lost a total of Rs40,000 crore in market value  while Tata Group's market cap declined by about Rs60,000 crore. 

Adani Group's m-cap, excluding that of ACC and Ambuja Cement, increased by nearly Rs10.16 lakh crore this year while the Tata Group lost Rs2.57 lakh crore in market cap hammered by a 17 per cent decline in its flagship company Tata Consultancy Services.

Mukesh Ambani-led Reliance Industries is in third place with a market cap of Rs17.07 lakh crore.

Adani Group, which on Friday completed the acquisition of Ambuja Cements and its listed subsidiary ACC, gas committed a further Rs20,000 crore of funds through a record preferential allotment of stock, demonstrating is intent to remain at the top of India’s building-materials industry.