Tata group companies lose R25,000 cr mkt value in a week
The Tata Group has suffered an erosion of over R25,000 crore in its market valuation within a week, as shares of its companies lost ground amid a sharp sell off.business Updated: Jun 16, 2013 21:27 IST
The Tata Group has suffered an erosion of over R25,000 crore in its market valuation within a week, as shares of its companies lost ground amid a sharp sell off.
As a result, the cumulative market value of nearly 30 listed companies of Tata group has fallen below the over R5 trillion mark to R4,85,000 crore (about $85 billion).
A week ago, the group’s market valuation stood at near R5,10,000 crore (nearly $90 billion), according to stock exchange analysis.
The companies which took the hit included Tata Motors, TCS, Tata Steel, Tata Power and Titan Industries, although a few entities like Rallis and Tata Elxi managed to buck the downtrend over the past week.
TCS, the group’s most valued entity, lost around R4,000 crore of market wealth to be valued at R284,000 crore, while Tata Motors slipped by over R9,000 crore to R88,200 crore.
Titan also lost over R4,500 crore, while the erosion was around R2,000 crore each for Tata Steel and Tata Power. The cumulative market value of all listed companies in the country has fallen by about R2 lakh crore in this period to close to R64.5 lakh crore.
Tata Group has more than 100 operating companies, 32 of them listed, and accounts for 7.60% of the total market capitalisation of Indian markets — the highest in the country.