2023 marks resurgence of traditional titans in capital markets
The CK Birla Group, witnessing an impressive 72% surge in group market cap, RPG Enterprises and TVS Group closely followed suit. However, in absolute terms, the Tata Group reclaimed the top spot by adding over ₹6 lakh crore in market cap during 2023.
In 2023, a notable resurgence unfolded in the capital markets, defying expectations and showcasing the resilience of established players. Surprisingly, the CK Birla Group, RPG Enterprises, and TVS Motor outpaced industry giants such as Adani, RIL, and Birla Group in terms of market capitalisation.
Leading the charge was the CK Birla Group, witnessing an impressive 72% surge in group market cap. RPG Enterprises and TVS Group closely followed suit. However, in absolute terms, the Tata Group reclaimed the top spot by adding over ₹6 lakh crore in market cap during 2023.
Let's delve into some key contributors among the winners in 2023
For the CK Birla Group, major contributions came from Birlasoft and Orient Cement. Birlasoft rallied nearly 150%, while Orient Cement surged nearly 100%, emerging as a significant contributors to the group's success.
In the RPG group, Zensar Technologies, RPG Life Sciences, and Ceat played pivotal roles. Zensar saw an impressive rally of nearly 190% in 2023, followed by RPG Life with a 60% surge and Ceat with a nearly 45% increase, collectively adding close to ₹10,000 crore in market cap for the RPG group.
Within the TVS Group, the flagship company, TVS Motor, emerged as the primary contributor with an 84% surge in FY23, adding nearly ₹95,000 crore in market cap. Sundaram Finance followed suit with a 51% rally, contributing close to ₹39,000 crore to the group's market cap.
Turning attention to the RP-Sanjiv Goenka Group, significant contributions came from Firstsource Solutions, which saw an 83% rally, and the smaller company PCBL, with a 97% increase, collectively adding close to ₹9,600 crore in market cap for the group.
However, the standout performer in wealth creation was the Tata Group. Tata Consultancy Services (TCS) and Tata Motors were the key contributors, with TCS adding nearly ₹1.8 lakh crore in market cap in 2023. Notably, Tata Motors made a substantial move, contributing nearly ₹1 lakh crore in market cap for the group during the year.
As we reflect on 2023, it becomes evident that it was indeed the year of the "Return of the Old Guards" in the capital markets.
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