Anil Ambani group's market cap tops $50 Bn

Tuesday, 25 September 2007, 07:00 Hrs
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Mumbai: The Anil Dhirubhai Ambani group Monday said that the market capitalisation of its five listed companies has together crossed the $50 billion mark, with the flagship Reliance Communications accounting for $30.7 billion.

"This is a great opportunity for communicating the value creation for investors by the group," a statement from Reliance Communications said soon after all the companies in its fold hit all-time highs on the stock exchanges.

Besides Reliance Communications, the listed companies in the group are Reliance Capital, Reliance Energy, Reliance Natural Resources and Adlabs films. These were formed after the split between the Ambani brothers - Mukesh and Anil.

Incidentally, this is the third group in the country after Reliance Industries led by Mukesh Amabani and the professionally managed Tata group, which has around 100 companies in its fold, to achieve the $50 billion market cap.

According to available figures, based on today's market closing, the market cap was $9.7 billion for Reliance Caps, $6.3 billion for Reliance Energy, $3.2 billion for Reliance Natural Resources and $0.6 billion for Adlabs.

The Mukesh Ambani group, which has Reliance Industries as the flagship company, has a market capitalisation of over $100 billion. His other companies include Reliance Petroleum, IPCL and Reliance Industrial Infrastructure.

"It has been a stunning performance," said an analyst with a brokerage here, as Reliance Energy emerged the top performer among the 30 shares of the sensitive index stocks on the Bombay Stock Exchange.

The company's shares shot up 8.33 percent 1,093.70. Reliance Communications was not far behind, gaining 3.26 percent at 598.25.
Source: IANS
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