A merry May for major business houses

3 June, 2003
Deepak Korgaonkar
Business Standard

Domestic groups which are into brick and mortar businesses have shown a smart improvement in market valuation in the last one month.

While the Bombay Stock Exchange (BSE) sensex has gained 7.50 per cent (220.96 points) in the period, major business houses recorded a 12.5 per cent increase in their market capitalization (m-cap).

The Aditya Vikram Birla group, ranked third among Indian business houses, has been the third biggest gainer in terms of m-cap. The dominance of old economy firms played a vital role in shoring up the group's m-cap 9.4 per cent (Rs. 983 crore) during the month. Hindalco's m-cap increased by Rs. 618 crore, while Grasim's m-cap looked up Rs. 227 crore.