Mukesh Ambani group tops in market cap Anil’s logs sharpest growth

Mukesh Ambani group tops in market cap Anil’s logs sharpest growth

Mumbai, July 1: The Mukesh Ambani-led Reliance Industries group has emerged as India’s largest private business house by market capitalization as on June 30 though his younger brother Anil’s empire registered the maximum growth last quarter.

The Reliance Industries group’s market cap grew 2 per cent to Rs.357,902 crore during the last quarter, while companies under the Tata group ranked second but actually registered a 3 per cent decline at Rs 326,827 crore. The Reliance Anil Dhirubhai Ambani Group, ranked third, grew 14 per cent during the period under review to Rs 142,380 crore, based on an analysis of data as on June 30 available with the bourses.

The other two on the top of the chart are metals major Sterlite ‘Vedanta’ group and the telecom services group Bharti Airtel. But their market capitalisation over the quarter slipped 20 per cent at Rs 131,522 crore and 16 per cent at Rs 99,970 crore, respectively. The top five ranked companies according to their market caps are: Reliance Industries (Rs.356,422 crore), Tata Consultancy (Rs 146,987 crore), Bharti Airtel (Rs 99,970 crore), Sterlite Industries (Rs 57,114 crore) and Tata Steel (Rs 43,088 crore).

In terms of growth in market capitalization registered by individual companies, Titan topped the list with 195 per cent, followed by 32 per cent for Sterlite Technologies and 24 per cent each for Anil Ambani’s Reliance Broadcast and Tata Tea. (IANS)

Boundary, China-Pakistan deal on agenda in NSA’s Beijing trip

Boundary, China-Pakistan deal on agenda in NSA’s Beijing trip

New Delhi, July 1: Days before Pakistan President Asif Ali Zardari goes to China to firm up a nuclear deal, Prime Minister Manmohan Singh is sending National Security Advisor Shivshankar Menon on Saturday as his special envoy to Beijing on a four-day visit during which he is also expected to hold the next round of boundary talks.

Menon will meet senior Chinese leaders, including Foreign Minister Yang Jiechi and State Councillor Dai Bingguo, and discuss a range of bilateral and regional issues. The two sides announced the visit in New Delhi and Beijing on Thursday.

Food inflation falls to 12.92%

NEW DELHI: Food inflation fell sharply to 12.92% for the week ended June 19 from 16.90% in the previous week as cost of cereals and vegetables declined.

On a yearly basis, potatoes became cheaper by about 40% and onion prices eased by over 7%.

Prices for pulses fell by 0.47% on a weekly basis. However, on an annual count, prices soared by 31.57%.

Overall inflation for May was 10.16%, led by high food prices. Food inflation has remained above the 16% level for most part of the year.

Analysts expect prices to slide in the coming months following a good monsoon shower.

TOI

Sensex tumbles over 191 pts on weakening global trend

MUMBAI: Bombay Stock Exchange benchmark Sensex on Thursday nosedived by over 191 points on selling at metal, realty, auto and banking counters amid weak global trends.

The Sensex, which had gained nearly 167 points in the previous session, plunged 191.57 points to 17,509.33.

Reliance Industries lost Rs 10.75 to close at Rs 1,076.15 while Infosys Technologies was down Rs 21.05 at Rs 2,767.50. The two blue-chips carry nearly 23 per cent weight on the Sensex.

The broad-based National Stock Exchange index Nifty fell by 61.10 points to 5,251.40.

Marketmen said that selling pressure gathered momentum following reports of a weak trend in the Asian region, after China's manufacturing outlook weakened slightly in June for the third month. A lower opening in Europe, following rating agency Moody's remarks that it may downgrade Spain's debt, also added to the selling pressure.

Domestic factors, such as a fall in food prices and a jump in exports in May, cushioned the decline to some extent, they added.

TOI