However, the overall market cap of BT 500 companies fell for the first time in seven years, down 1.5 per cent (October 2018-September 2019 period) as against a 23.4 per cent increase in the same period the previous year and 20.5 per cent in 2016/17; though the decline is not as bad as the last recorded drop of 6.5 per cent in 2011/12. Among the leading indicators tracked in the BT 500 listing, a 10.04 per cent growth in total assets during the year is lower than the 12 per cent recorded in 2017/18, indicating a slowdown in asset creation.
The fall in overall market cap has, however, not affected the leaders. The top three companies – Reliance Industries (RIL), Tata Consultancy Services (TCS) and HDFC Bank – have retained their rankings this year too. Both RIL and TCS have recorded a 24.2 per cent increase in average market cap. Among the top six, only ITC has moved down two notches from rank 4 that it had retained for the last two years. Both HDFC Bank and HDFC make it among India’s leading five companies, again after 2016/17.
This story is from the December 01, 2019 edition of Business Today.
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This story is from the December 01, 2019 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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