April 24, 2024

Tata Group is now bigger in size than Pakistan’s entire economy

Tata Group’s market capitalisation can now bigger than the entire economy of Pakistan as several companies of the conglomerate gave massive returns in one year. The market capitalisation of Tata Group stood at $365 billion while IMF estimated Pakistan’s GDP to be almost $341 billion. Separately Tata Consultancy Services which is valued at $170 billion- India’s second largest company- is roughly half the size of Pakistan’s economy.

How are Tata companies performing?

The market capitalisation of Tata Group stood at $365 billion.(Reuters)

Returns from Tata Motors and Trent and rally seen in Titan, TCS and Tata Power in the last one year has resulted in the rise of Tata Group’s cap. At least 8 Tata companies, have more than doubled wealth in the last one year.

Discover the thrill of cricket like never before, exclusively on HT. Explore now!

These include TRF, Trent, Benaras Hotels, Tata Investment Corporation, Tata Motors, Automobile Corporation of Goa and Artson Engineering. Additionally, Tata Capital, which has to bring out its IPO by next year, has a market value of 2.7 lakh crore.

Pakistan’s economy struggles on

Pakistan’s GDP recorded a growth of 6.1% in FY22, 5.8% in FY21 and estimated to have contracted in FY23. Floods caused heavy damage totalling billions of dollars in the country which is sitting on external debt and liabilities up to $125 billion as it tries to meet $25 billion of external debt payments starting July. Its $3 billion programme from the International Monetary Fund (IMF) is also ending in March while its foreign exchange reserves stand at $8 billion.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it’s all here, just a click away!- Login Now!
Stay informed on Business Newsalong withGold Rates Today, India News and other related updates on Hindustan Times Website and APPs

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


Get our latest downloads and information first.
Complete the form below to subscribe to our weekly newsletter.

100% secure your website.