Adani pips Tata as India's most valued conglomerate

Gautam Adani's red-hot streak on Dalal Street continues with his group of companies overtaking the ones under the Tata umbrella to become India's most valuable conglomerate.

- SAMIE MODAK & SAMEER MULGAONKAR

At Friday's close, the market value of all listed stocks of Adani Group stood at ₹22.27 trillion (about $278 billion), higher than Tata Group's ₹20.77 trillion ($260 billion). Mukesh Ambani-led Reliance Group is in third position with market capitalisation (market cap/value) of ₹17.16 trillion ($220 billion).

The market value of the Ahmedabadbased group is for its nine listed firms starting with the family name Adani and also for the Ambuja Cements and ACC.

In comparison, Tata Group has 27 listed companies, of which Tata Consultancy Services (TCS) accounts for 53 per cent of the conglomerate's market capitalisation.

The Mukesh Ambani group has nine listed companies, but Reliance Industries (RIL) accounts for 98.5 per cent of the group's market capitalisation.

RIL, the oil-to-telecom major, is also India's most valuable company with a market capitalisation of 16.91 trillion, followed by India's largest software exporter TCS (market capitalisation 11 trillion).