July 01, 2011 | The Economic Times
Tata group market wealth crosses $100-bn mark
NEW DELHI: The country's top corporate house Tata group's stock market wealth today crossed the USD 100 billion mark, as some of its companies including IT giant TCS gained value despite an overall weak market.
The cumulative market capitalisation of all the listed companies of Ratan Tata-led salt-to-software conglomerate today rose to Rs 4,47,351 crore, based on their share prices at the Bombay Stock Exchange.
Taking into account today's RBI reference rate for one US dollar at Rs 44.5855, this translates into total market valuation of USD 100.33 billion for the Tata group.
The group's total market value stood at Rs 446,420 crore (USD 99.8 billion) yesterday.
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 USD 52 billion (Rs 232,194 crore).
Tata group crossing the USD 100-billion dollar mark of market valuation today coincided with TCS's Annual General Meeting.
Incidentally, Tatas had crossed Rs 1,00,000 crore market value mark with TCS's listing on August 25, 2004, becoming the country's most valued business house at that time.
Also, earlier in January this year, the Tata group's market value had briefly crossed USD 100-billion mark.