New firms in Rs 1,000-cr market cap club

Despite tumultuous equity markets, 26 new business houses have entered Rs 1,000 crore (Rs 10 billion) and more market capitalisation list in the last one year.

The Walchand group, Chhabria group, C K Birla, M P Birla, Videocon, Nagarjuna, Modi and H S Singhania groups have join this elite club.

The total aggregate wealth of these 26 business houses has more than doubled in the last one year, from Rs 17,352 crore (Rs 173.52 billion) on March 31, 2004, to Rs 35,410 crore (Rs 354.10 billion) on April 13, 2005.

Of the 26 business groups, the market capitalisation of 16 business houses appreciated more than 100 per cent during the period.

These business houses have interests in sugar, engineering, construction and steel sectors, and all these sectors have gained significantly in the last one year. The market prices of these sector stocks have appreciated more than 100 per cent in the last one year.

The total market value of the five Walchand group companies appreciated by 276 per cent from Rs 318 crore (Rs 3.18 billion) on March 31, 2004 to Rs 1,194 crore (Rs 11.94 billion) on April 13, 2005.

The share price of group firm Hindustan Construction Company (HCC) zoomed up by 390 per cent from Rs 106.85 on March 31, 2004 to Rs 524.25 in last one year.

Acrow India, Ravalgaon Sugar and Walchand Capital are the other group companies whose share price has gone up by more than 60 per cent during the period.

The market value of seven Chhabria group companies has appreciated 269 per cent from Rs 341 crore (Rs 3.41 billion) to Rs 1,258 crore (Rs 12.58 billion). The market price of Mather & Platt, Hindustan Dorr Oliver, Mather & Platt Pumps and Shaw Wallace has increased by more than 250 per cent during the year.

The total market capitalisation of Nagarjuna group companies, including Nagarjuna Constructions, Nagarjuna Agrichem and Nagarjuna Fertilisers has increased by 203 per cent to Rs 1,706 crore (Rs 17.06 billion) in the last one year.

The share price of Nagarjuna Constructions went up more than four times from Rs 151.94 to Rs 663.50 and of Nagarjuna Agrichem from Rs 28.15 to Rs 114.15.

The aggregate market capitalisation of the C K Birla group appreciated by 194 per cent from Rs 349 crore (Rs 3.49 billion) to Rs 1,024 crore (Rs 10.24 billion) during the period.

The Videocon group's total market wealth increased by 195 per cent to Rs 1,342 crore (Rs 455 crore) and of the M P Birla group by 186 per cent to Rs 1,618 crore (Rs 567 crore).

Of the other business groups to touch the Rs 1,000 crore mark in terms of market capitalisation, the Amtek group has a total market capitalisation of Rs 2,023 crore (Rs 20.23 billion).

The Kirloskar group has a capitalisation of Rs 1,979 crore (Rs 19.79 billion), Lakshmi group Rs 1,327 crore (Rs 13.27 billion), Welspun group Rs 1,296 crore (Rs 12.96 billion), S P Oswal group Rs 1,395 crore (Rs 13.95 billion), Mac group Rs 1,222 crore (Rs 12.22 billion) and D P Jindal group Rs 1,167 crore (Rs 11.67 billion).