Reliance Industries remained the most valued firm in terms of market capitalisation, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, SBI, Airtel, HDFC and ITC.
Barring Hindustan Unilever, rest nine companies witnessed addition in their market valuation, including Tata Consultancy Services (TCS), HDFC Bank, Infosys and State Bank of India (SBI).
The market valuation of Reliance Industries rallied Rs 36,566.82 crore to reach Rs 17,08,932.42 crore.
The market capitalisation (mcap) of HDFC Bank advanced Rs 11,195.61 crore to Rs 8,12,378.52 crore. The mcap of HDFC surged Rs 8,214.27 crore to Rs 4,36,240.27 crore
TCS added Rs 8,617.06 crore, taking its valuation to Rs 11,57,339.65 crore.
Infosys zoomed Rs 5,259.92 crore to Rs 6,36,476.13 crore.
ICICI Bank’s valuation climbed Rs 568.37 crore to Rs 6,32,832.76 crore
SBI climbed Rs 8,879.98 crore to Rs 5,09,372.21 crore.
Bharti Airtel’s market valuation jumped Rs 10,792.67 crore to Rs 4,54,404.76 crore
ITC Rs 224.04 crore to Rs 4,28,677.66 crore.
However, the market valuation of Hindustan Unilever tanked Rs 30,509.44 crore to stand at Rs 5,93,318.79 crore
Also it is to be noted on October 10, Adani Group’s Chief Financial Officer Jugeshinder ‘Robbie’ Singh detailed the growth plans of the group, which started off as a trader in 1988 and expanded rapidly into ports, airports, roads, power, renewable energy, power transmission, gas distribution and FMCG and more recently into data centres, airports, petrochemicals, cement and media, at an investor meet organised by Ventura Securities Ltd in New Delhi.
The group’s market capitalisation was around USD 16 billion in 2015 and it is USD 260 billion in 2022 – a surge of over 16x in seven years.
The group plans to invest USD 50-70 billion in green hydrogen business and another USD 23 billion in green energy over the next 5-10 years, he said. It will invest USD 7 billion in electricity transmission, USD 12 billion in transport utility and USD 5 billion in the road sector.
Its foray into data centre business with cloud services would entail an investment of USD 6.5 billion in partnership with Edge ConneX and another USD 9-10 billion is planned for airports, where it is already the largest private operator. Its foray into the cement sector with the acquisition of ACC and Ambuja cement entailed USD 10 billion investment.
It is foraying into the petrochemical business with plans to set up a 1 million tonnes per annum PVC manufacturing facility at an investment of USD 2 billion and would enter the copper sector with a 0.5 million tonnes a year smelter at an investment of USD 1 billion, he said.
The healthcare sector foray that will include insurance, hospitals and diagnostic and pharma would see an investment of USD 7-10 billion, with some coming from Adani Foundation.
“Whatever you see today, it might look like it has just happened in the last one or two years, but in reality what we have done, both GSA (Gautam Shantilal Adani) and myself discussed this in 2015,” Singh said at the investor meeting adding the conglomerate is a result of a well-thought-out business plan that entailed foraying into adjacencies of existing business.
“Given what we had as a set of companies, we believed that if we had assets and companies of that type we should really be a USD 1 trillion group. So we went through the steps that we needed to take to get to the point,” he said.
Globally there are only a handful of companies that are valued at trillion dollars or more. These include Apple, Saudi Aramco, Microsoft, Google’s parent Alphabet and Amazon.