Bharti Group becomes India's 4th-largest conglomerate, surpassing Adani, Bajaj
What's the story
The Bharti Group has surpassed the Adani and Bajaj groups to become India's fourth-largest conglomerate. This comes as its market capitalization has jumped by over 30% this year to ₹14.5 lakh crore. The surge is mainly due to strong performance from Bharti Airtel, which accounts for about 82% of the group's valuation and has seen its shares rise nearly 32% year-to-date.
Market performance
Airtel's strong performance drives group valuation
Bharti Airtel's strong earnings growth, rising average revenue per user (ARPU), and rapid 5G expansion have contributed to the company's stock surge. The wireless carrier reported better-than-expected results for the September quarter, driven by a strong operating performance. Other group companies such as Indus Towers and Bharti Hexacom also witnessed significant gains of 20% and 23%, respectively, during this period.
Market standings
Bharti Group joins ranks of top Indian conglomerates
As of November 13, the Bharti Group's combined market capitalization stood at ₹14.5 lakh crore, surpassing both the Adani and Bajaj Groups, each valued at around ₹14.4 lakh crore. The shift places the Bharti Group behind only Tata Group, Reliance Industries Group, and HDFC Group in India's corporate hierarchy. The Tata Group leads with a valuation of around ₹27 lakh crore followed by Reliance at ₹23 lakh crore and HDFC at approximately ₹18 lakh crore.