Tata group crosses $100-bn mark in market value

Tata Sons, which recently overtook both the Reliance groups as India's biggest industrial group in terms of market capitalisation, on Friday saw its stock market wealth cross the $100 billion landmark, as some of its companies including Tata Consultancy Services gained value in an overall weak market.

The cumulative market capitalisation of all the listed companies of the Ratan Tata-led conglomerate, with interests ranging from salt to steel to software to hospitality, rose to Rs447,351 crore, based on their share prices at the Bombay Stock Exchange.

As The Economic Times reports, taking into account today's Reserve Bank of India reference rate of Rs44.5855 a dollar, this translates to a total market valuation of $100.33 billion for the group.

The Tata group comprises of nearly 100 operating companies, but only about 30 of them are listed in the stock market. These include TCS, Tata Steel, Tata Motors, Tata Power, Indian Hotels, Titan, Voltas and Tata Communications.

TCS alone accounts for more than half of the group's total market value with a market capitalisation of $52 billion (Rs 232,194 crore).

On a day when the benchmark Sensex fell by 83 points, some of the Tata group companies managed to add value to their stocks. These included Rallis, Indian Hotels, Tata Communications, Tata Global Beverages, Tata Investment Corp, Trent and TCS.

Tata Group crossing the $100-billion dollar mark in valuation coincided with TCS's annual general meeting on Friday.