New Delhi: Tata Group’s combined market capitalisation crossed Rs 30 lakh crore on February 6, making it the first Indian business house ever to hit the milestone.
This helped Tata Group hit that historic milestone in the surge in the stock prices of TCS, Tata Motors, Tata Power and Indian Hotels this year.
The surge was boosted by a deal the IT firm signed to transform Europe Assistance’s IT operating model using artificial intelligence and machine learning.
The Reliance Group holds the second position on the market-cap leaderboard, at Rs 21.60 lakh crore. The Adani Group, with interests across various infrastructure sectors and capital-intensive commodities, is ranked third, with a combined market value of Rs 15.54 lakh crore.
TCS touched a $200 billion valuation itself recently riding 30% gains in 2023 so far aided by mega deal wins like Aviva UK highlighting strong order flows globally. Tata Motors posted the highest volumes in 9 years with consolidated margins exceeding 16% as JLR performance recovered alongside muted input costs.
Tata Power aims continued upside being among the largest renewable project owners locally with capacities across solar, wind and hydro assets. The Group currently has 24 listed entities with just 3 in the red this year illustrating a robust across-the-board uptick bucking global contraction.
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