New entry into $100-billion market cap club: Aditya Birla Group crosses the mark, beats benchmark indices
Admin
May 25, 2024
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On Friday, May 24, the Aditya Birla Group (ABG) companies achieved a combined market capitalization of over $100 billion, or Rs 8,51,460.25 crore. According to a company statement, "the group's market cap growth has beaten the benchmark indices Sensex and Nifty, year-to-date, as well as on a one-year, three-year, and five-year time frame."
The statement went on to say that over a one-year and three-year period, ABG's market capitalization accretion has been twice as high as the S&P, even when expressed in US dollars.
Among the group companies with a combined BSE valuation of $100 billion are UltraTech Cement, Grasim, Hindalco, Aditya Birla Capital, Aditya Birla Sun Life AMC, Vodafone Idea, Aditya Birla Fashion and Retail, TCNS Clothing, Aditya Birla Money, Century Textiles, Century Enka, and Pilani Investment.
The statement claims that in the previous three years, Grasim's market capitalization has increased twofold to over $19 billion as a result of developing and growing new high-growth engines. The business went on to state that because Hindalco has contributed more than $7 billion to its market capitalization in the previous 12 months, its market capitalization has also doubled in less than two years.
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