ADAG block, DLF, RIL, Bharti drop 40-70% in market cap

Markets have been ruling under bears’ control since middle of January 2008 and not showing any signs of going back to its all-time high. The Sensex has lost over 550 points and closed below 13000 mark for the first time since April 5, 2007. It plunged over 39% from its all-time high of 21206.77. Frontliners have taken huge beating on the bourses, lost their market cap by wide margin.

Reasons behind this steep fall are subprime crisis in US, rising crude oil price that is above $ 143 a barrel, slowdown in home sales numbers in UK, inflation worries, RBI tightening rates etc.

Moneycontrol studied market cap of big groups like Bharti, DLF and Reliance.

Real estate space has knocked down severely. India’s largest real estate developer, DLF has lost 70% of its market cap from all-time high. The stock closed at Rs 368.4 while its 52-week high was Rs 1225.

Anil Dhirubhai Ambani Group (ADAG) has four companies, which listed on the bourses. That group has lost 66% in market cap at Rs 1,43,322 crore from Rs 4,22,407 crore.

Market cap of Mukesh Ambani’s group companies like Reliance Ind, Reliance Petro and Rel Ind Infra dropped 39% to Rs 3,73,035 crore from Rs 6,10,326 crore. It means Mukesh Ambani Group companies lost less market cap than ADAG cos.

Bharti Airtel’s market cap was Rs 2,18,083 crore at its 52-week high price, which dropped by 38.45% to 1,34,228.

Name RIL includes three companies