The Tata group remained India’s top business group in terms of market capitalisation (m-cap) in 2022 but Adani group companies were among the biggest gainers on the bourses for the second consecutive year. Tata companies ended CY22 with a combined group m-cap of Rs 21.2 trillion, down 9.4 per cent year-on-year (YoY) from Rs 23.4 trillion at the end of December 2021.
The Adani group overtook Mukesh Ambani’s firms to become the country’s second-biggest business house in terms of m-cap. Its m-cap more than doubled to Rs 19.66 trillion on Friday, up from Rs 9.62 trillion at the end of December 2021. In comparison, the Mukesh Ambani-led group’s market value was up 6.9 per cent YoY to Rs 17.54 trillion,