HDFC Group briefly overtook Tata Group as India's most-valued conglomerate
Following Wednesday's trading session, the Tata Group lost the distinction of being the most valuable conglomerate in India. Replacing the Tata Group at top spot was the HDFC Group, which had a market capitalization of Rs. 1,185cr more than that of the Tata Group at the close of the trading session on Wednesday. However, Tata has reclaimed the top spot again now. Here's more.
As per Bloomberg data, the close of the trading session on December 26 saw HDFC Group's market capitalization touch Rs. 10.40 lakh crore, compared to the Tata Group's Rs. 10.38 lakh crore. What is notable here is that HDFC managed to leapfrog Tata, with only five companies under its fold. For those unaware, the Tata Group has 25 companies under it.
The five companies under the HDFC Group are Housing Development Finance Corporation, HDFC Bank, HDFC Standard Life Insurance, HDFC Asset Management, and Gruh Finance.
The HDFC Group is only the third company in Indian corporate history to have crossed the Rs. 5 lakh crore threshold, the other two being the Tata Group and Mukesh Ambani's Reliance Group. HDFC's increase in market capitalization this year was aided by the recent listing of its insurance arm HDFC Standard Life Insurance Company, and mutual funds arm HDFC Asset Management Company.
Following the close of Thursday's trading session, however, the Tata Group reclaimed the top spot again, albeit by a small margin. On December 27, the Tata Group had a market capitalization of Rs. 10.45 lakh crore, compared to HDFC Group's 10.44 lakh crore. With Ambani's Reliance Group having a market capitalization in the ballpark of Rs. 7 lakh crore, the battle for top spot currently remains a two-horse race.
The 25 listed companies under the Tata Group are Tata Consultancy Services, Tata Motors, Tata Global Beverages, Tata Steel, Tata Power, Titan, Tata Communications, Tata Investment Corp, India Hotels, Rallis, Trent, Tata Elxsi, Tata Chemicals, Tata Coffee, Voltas, Tata Teleservices, Tinplate, Tata Metaliks, Tata Sponge, Automobile Corp, Benares Hotels, Artson Engineering, Automotive Stamp, Nelco, and Oriental Hotels.
