Investors reap gains on split in Ambani empire
Ambani brothers' split is proving to be a blessing in disguise for the investors as they have seen nearly doubling of their wealth in less than four months.Updated: May 10, 2006 15:22 IST
Ambani brothers' split is proving to be a blessing in disguise for the investors as they have seen nearly doubling of their wealth in less than four months since Reliance Industries began trading on a post-demerger split basis.
The total investor wealth from both Mukesh and Anil Ambani groups has nearly doubled since January 18 this year, when the erstwhile RIL began trading on a split basis following the implementation of the scheme of arrangement reached between the two brothers. Since then shareholders have emerged clear winner from the whole affair of the split in the Ambani family that marked one of the biggest family and business splits in the corporate India.
The cumulative market capitalisation of all the listed entities from the Mukesh and Anil Ambani groups of companies surged nearly 99.2 per cent to Rs 2,48,490.29 crore as on May 9, from Rs 1,24,724.73 crore on January 18.
RIL's market cap alone has surged nearly 66.5 per cent to Rs 1,60,943.21 crore as on May 9, from Rs 96,688.69 crore on January 18. India's largest corporate entity is only next to PSU oil exploration major ONGC in terms of market-cap that surged past Rs 2 lakh crore on Tuesday.
The latest figure comprises of the market caps of RIL, Indian Petrochemicals Ltd (IPCL) and Reliance Industries Infrastructure from the Mukesh Ambani group and Reliance Communications Ventures Ltd (RCoVL), Reliance Capital, Reliance Energy (REL), Reliance Natural Resources Ltd (RNRL), Reliance Capital Ventures Ltd (RCVL) and Reliance Energy Ventures Ltd (REVL) from the Anil Ambani group companies.
First Published: May 10, 2006 15:05 IST