Over 100 firms defy bear-hug - Hindustan Times
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Over 100 firms defy bear-hug

PTI | By, Mumbai
Jul 06, 2008 11:16 PM IST

All is not lost in the current bear run on Dalal Street, as close to half-a-trillion rupees have been added to investors' wealth by over 100 companies.

All is not lost in the current bear run on Dalal Street, as close to half-a-trillion rupees have been added to investors' wealth by over 100 companies, including blue-chips like Infosys, Cairn India, Satyam and Ranbaxy and also some little known smaller firms.

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While a few of these companies have registered a growth of nearly two-fold or three-fold, a number of them have seen their values growing by more than 10 per cent with an average surge of nearly 15 per cent.

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The stock market has been mostly on a downslide for close to six months now and its benchmark Sensex as well as total valuation has dipped by close to a third since January 10.

The Sensex scaled a life-time high of 21,206.77 points on January 10 before losing close to 8,000 points till now.

A number of large-cap companies have seen their valuations dip sharply — with a loss of close to Rs 5 trillion by companies headed by the country's five richest individuals — Mukesh and Anil Ambani, K P Singh, Azim Premji and Sunil Mittal. The net loss has been more than Rs 25 trillion for all the listed entities in the country.

However, an estimated 114 companies have actually seen their market value growing in this period, shows an analysis of change in M-cap figures since January 10.

In absolute terms, these companies have seen their market capitalisation growing by close to Rs 46,000 crore to more than Rs 3,54,000 crore.

However, just about 30 companies out of these have a market capitalisation of more than Rs 1,000 crore and the growth has been mostly in single or double-digit percentage points for these firms.

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