Soaring Torrent overtakes Zydus's Patel

Narayan B Bhatt / TNN / Dec 16, 2005, 23:19 IST

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Torrent group's Sudhir Mehta has climbed up one notch to second spot in Gujarat's top-five rich list.

AHMEDABAD: Torrent group's Sudhir Mehta has climbed up one notch to second spot in Gujarat's top-five rich list, in terms of promoters' stake in the market capitalisation.
Janmejay R Vyas of Dishman Pharmaceuticals is a surprise entry into the big league, nudging out Sanjay Lalbhai of Arvind Mills.
Nirma's Karsanbhai Patel continued to retain his top spot, while Pankaj Patel of the Zydus Cadila group has dropped down from second to third place now.
Dishman's Vyas has in fact jumped to the number four spot, ahead of Gautam Adani of the Adani group.

The sharp movements on the bourses mean that the Lalbhais, who were at fourth place a couple of months back, have been pushed out of 'Big Five' list.
A significant spurt in the share price of Torrent Pharmaceuticals Ltd (TPL) in the last 10 days' time due to a stock split and bonus issue has enabled Mehta to overtake Zydus' Patel and rise to the second place. The value of his shareholding in TPL has shot up to Rs 1,348 crore on Friday.

With his stake in group companies Torrent Power AEC being Rs 672 crore, Torrent Power SEC valued at Rs 213 crore, Torrent Cables holding at Rs 213 and Gujarat Lease Finance Ltd at Rs 12 crore, Mehta's total valuations have gone up to Rs 2,370 crore.
As Torrent Gujarat Biotech is to be sold to another company, it has not been included while valuing Mehta's shareholding value.
A first generation entrepreneur, Dishman's Vyas has come a long way since his company got listed in April 2004 at a huge premium. As against the issue price of Rs 175, the scrip got listed at Rs 542.
After splitting the shares from Rs 10 face value to Rs 2 in October 2005, Dishman's scrip is quoting at Rs 186 currently.
Company's current share price would be Rs 930 if it were adjusted to the previous face value of Rs 10 per share.
Nirma's Karsanbhai is still sitting pretty at the top as his 77.36 per cent stake in the company got a valuation of Rs 2886 crore based on Friday's closing price of Rs 470 per share. Zydus' Patel, with a valuation of Rs 2302 crore, has fallen marginally behind Torrent's Mehta.
Lalbhai dropped out of the top five as his family's stake in the company dropped to 34.5 per cent from 38 per cent.
Arvind's stock price has also declined to Rs 108 currently from Rs 137 in early October. Gautam Adani managed to retain his position at the fifth place.

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