Business Standard

9 new entrants in Rs 1 trn m-cap club in '23; HAL, Varun Beverages make cut

Hindustan Aeronautics, Varun Beverages among firms to enter

markets

Sundar Sethuraman Mumbai

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The Bull Run in the market this year has led to the entry of nine companies into the Rs 1-trillion market capitalisation (m-cap) club. State-owned Hindustan Aeronautics (HAL), DLF and Tech Mahindra are among the firms which have seen a sharp increase in their market value so far in 2023.

Hindalco Industries is the only company to have dropped out of the club. The Birla-Group firm’s shares are down nearly 10 per cent year-to-date even as the benchmark Nifty50 index has gained close to 10 per cent.

The total number of companies with m-cap of more than Rs 1 trillion (mega-club) has now swelled to 56 from just 48 at the end of the 2022 calendar year. The share of these companies in overall m-cap has also edged higher -- from 55.5 per cent at the end of last year to nearly 57 per cent at present. The market cap of all BSE-listed companies is currently at a record of Rs 304.5 trillion.

Overall, the metals pack has underperformed in 2023 due to drop in commodity prices amid uncertain economic outlook in China.

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Source: Capital Line


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First Published: Jul 19 2023 | 7:54 PM IST

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