Tuesday, April 23

Tata Group: First Indian Conglomerate To Cross 30 Lakh Crore Market Cap

Edited by Aishwarya Krishnan

Tata Group became the first Indian conglomerate to cross 30 lakh crore market cap on Tuesday, accounting around 8 percent of the BSE’s total market capitalization of 392.21 lakh crore. With this, the 155-old company became the first Indian business to house to ever secure this feat, driven by heavy performances from Tata Consultancy Services (TCS), Tata Motors, Tata Power and Indian Hotels.

Meanwhile, Mukesh Ambani’s Reliance remains the country’s second largest business conglomerate with a combined group market cap of over 21 lakh crore, followed by Adani group, led by Adani, with a cumulative market value of around 15 lakh crore.

Out of the 18 major listed entities of Tata Group, The Indian Hotels Company, and Tata Teleservices experienced a positive terrain on Tuesday. The engineering unit of Tata Motors, Tata Technologies, made its debut recently on domestic bourses and became the top performer among the group with a 4.6% gain.

Tata Consultancy Services Ltd (TCS) rose over 9% in 2024 after the company had secured a new deal from Europ Assistance, a global travel insurance firm, to transform its IT operating model using machine learning and artificial intelligence.

The market cap of Tata Group has increased by 5 lakh crore from 25 lakh crore in the last four months, while in the last six months, the share price of TCS has risen over 18%. The conglomerate’s second most valued firm, Tata Motors, zoomed over 54% during the same time. Tata Powers witnessed a rise of 18% while Indian Hotels surged up to 16%.

The achievements of the Tata Group shares can be credited to the profits and power of the brand “Tata” among investors. The company is expecting a surge in client investments and the management has expressed confidence in growth prospects in long-term. Tata Power boasts of a clean energy portfolio of 5,500 MW with sources including solar, wind, and hydropower.

Further momentum is expected as the government focuses on expanding renewable energy, as per the Interim Budget 2024.