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This story is from April 9, 2006
Torrent biggest wealth creator in last fiscal
Pharmacos dominate list of Gujarat-based corporate houses.
Torrent posted a whopping 132% growth in its market capitalisation. In terms of year-on-year (YoY) growth in market capitalisation, Torrent was followed by FMCG major Nirma Limited with a growth of 60%, Dishman Pharma with 50%, Zydus Cadila with 48% and Alembic Limited with 40%.
Adani Exports posted a growth of a mere 6% during the period.
Dishman Pharma, which clinched the third position, could have done better, except for the fact that the growth in its market capitalisation remained stagnant during the last quarter of the fiscal.
In terms of overall market capitalisation, Zydus Cadila has topped the charts with Rs 4,310 crore. Torrent group's three companies-- Torrent Pharma, Torrent Power AEC and Torrent Power SEC-- have posted three-digit growth in their market capitalisation.
Amongst the three group companies, Torrent Power AEC has topped the charts with an annual growth of 148%, followed by Torrent Power SEC at 123% and Torrent Pharma at 111%.
According to market analysts, the government initiatives to privatise the power distribution network had electrified the power sector stocks. In case of Torrent, capacity expansion and merging of its power companies into one entity had attracted investors' attention.
"Growth in pharma stocks was mainly injected by overseas expansions. A majority of pharma companies have made overseas acquisition in order to strengthen their foothold in global markets and this has given lot of push to pharma stocks," Anagram Securities vice-president VK Sharma said.
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