Battered in 2008, year ahead for Ambani groups remains cloudy
28 Dec 2008, 1435 hrs IST, PTI
MUMBAI : You may like them, you may hate them, but you just can't wish them away! Such is the aura of Reliance companies in the stock market, no
matter which group they belong to -- Mukesh Ambani's or younger brother Anil's.
The two groups were the biggest gainers in 2007 and worst sufferers in 2008 in the stock markets and outlook for 2009 also does not appear too bright, given the nature of the businesses they are into and the economic dynamics within and outside the country, feel a cross section of analysts.
Accounting for about 11 per cent of the market capitalisation of all the listed entities in the country, the two groups also have a combined weightage of about 18 per cent in the BSE sensitive index, Sens*x.
No wonder, all the nine companies led by either of the two brothers have lost an astonishing about Rs five lakh crore so far in comparison to total erosion of about Rs 42 lakh crore of all the listed firms together.
The year that saw the two estranged brothers battling out not only inside and outside the court rooms, as market watchers also kept an eye on the race between Mukesh and Anil to become the richest Indian if not the richest man globally.
CAclubindia
