Reliance ADAG tops market-cap losers` list

Corporate India's m-cap, which was Rs 74.70 trillion (Rs 74,70,359 crore) on January 8 when the Sensex was at its peak of over 21,000, dropped to Rs 41.40 trillion (Rs 41,00,400 crore) on Thursday.

Among the business groups, the Anil Ambani-led Reliance ADAG tops the losers' list, wiping out investors' wealth by almost Rs 2.08 trillion (Rs 20,88,320, crore).

The Mukesh Ambani-led Reliance group ranked second, with its market cap loss of Rs 1.80 trillion (Rs 18,07,040 crore), while realty major K P Singh's DLF destroyed a market cap worth Rs 1.31 trillion (Rs 13,10,590 crore) as the market price of its listed flagship company declined by 66.8 per cent.

The Tata group saw its m-cap plunging by Rs 0.95 trillion (95,000 crore), followed by Ramesh Chandra's Unitech, which eroded market value by Rs 0.60 trillion (Rs 60,000 crore).

Banking, realty, refinery and power stocks were the largest losers, with their market cap slipping by over Rs 2.25 trillion each.

Telecommunication, trading, non-banking finance, oil exploration, engineering, mining and steel companies reported value erosion between Rs 1 trillion and Rs 1.75 trillion each.

Reliance Industries, the petrochemicals flagship of Mukesh Ambani topped the losers' chart, with market cap erosion of Rs 1.42 trillion (Rs 1,42,370 crore). DLF stood second and wiped out Rs 1.31 trillion worth of market capitalisation.

The other three biggest market cap losers after Reliance and DLF were ONGC (Rs 100,000 crore), MMTC (Rs 99,000 crore) and NTPC (Rs 93,000 crore).

Of the 2,890 actively traded stocks on BSE, 96 per cent of the listed firms destroyed investors' wealth by an average of 45 per cent, while only 4 per cent of the companies increased investors' wealth by a modest 12 per cent.

Infosys Technologies topped the wealth creators' list, with an m-cap increase of Rs 9,063 crore, followed by Sun Pharma (Rs 5,731 crore), Ranbaxy (Rs 3,840 crore), Satyam Computer (Rs 2,610 crore) and Cairn India (Rs 2,017 crore).