Bajaj group knocks out Aditya Birla from 3rd spot in m-cap battle

There has been a quiet change in the pecking order among the country’s top-three family-promoted business groups in terms of the market capitalisation of their listed companies.

The Pune-based Rahul Bajaj group, thanks to an amazing stock market ride by Bajaj Finance and Bajaj Finserv, has grabbed third spot, pushing the Aditya Birla group down to fourth position.

On August 14, the market cap of the Bajaj group’s listed companies reached Rs 3.9 trillion compared to the Rs 3.02 trillion of the Aditya Birla group. The group is, of course, still behind the top two family group listed companies: the Tatas (market cap of Rs 11.4 trillion) and the Mukesh Ambani group (market cap Rs 7.8 trillion). The Bajaj group consists of the patriarch Rahul and brothers Shekhar (who runs Bajaj Electricals), Niraj (who looks after Mukand), and Madhur (who works closely with Rahul). 

 Bajaj Auto has stayed more or less stable, going down marginally. The other listed companies in the group include Bajaj Holdings & Investments, the holding company; Bajaj Electricals, the home appliances company, steel maker Mukand Ltd, Hercules Hoists, and Mukand Engineers Ltd. The A V Birla group’s market cap is based on the stock prices of around 10 companies which include Ultra Tech Cement, Hindalco, financial services company Aditya Birla Capital, Idea Cellular, Aditya Birla Fashion, Aditya Birla Money, Grasim, Aditya Birla Chemical, Tanfac, and Sri Digvijay Cement.   

 The Bajaj group has also achieved another milestone by overtaking ITC in market cap this year, just as it overtook L&T and Hindustan Unilever last year. The market cap of ITC Ltd on August 14 was Rs 3.8 trillion.