Anil Ambani addresses a press conference in Mumbai. MoreNEW DELHI: The new political combination at the Centre seems to be favouring Anil Ambani group companies more than that of his elder brother Mukesh, if one goes by the stock price movements of the two group companies.
Since July 7, when it became clear that Amar Singh, who is considered to be close to Anil Ambani, and his Samajwadi Party (SP) would support the government, the market capitalisation of Anil's holdings in six companies increased by 24% to Rs 1,41,415 crore. That means, he became richer by almost Rs 27,000 crore.
During the same period, however, the market capitalisation of Mukesh Ambani's holdings in the three companies increased by 7% to Rs 2,25,758 crore, making him richer by only Rs 14,000 crore.
From July 4 to July 24, the benchmark sensex increased by 9.8% as the stock market was betting on the government's survival, without support of the Left parties. Since July 17, the bull run was much sharper as there was clearer indication of government sailing through trust vote in Parliament with new coalition, mainly with SP. During this time, share prices of ADAG (Anil Dhrirubhai Ambani Group) companies rose much higher than the rise in Sensex.
Earlier, when the market was in a bearish mode, ADAG suffered one of the worst drubbing. From January 10 to July 4, while sensex fell 35%, market capitalisation of the ADAG companies declined by 57%. Market value of Anil's holdings in the listed companies came down to Rs 1,14,120 crore from Rs 2,64,053 crore. He suffered a loss of almost Rs 1,50,000 crore during this period.
During the same time, market value of Mukesh's holdings in the group's listed companies declined by only 29% to Rs 2,11,417 crore from Rs 2,96,723 crore. This means, his market value declined by only Rs 85,000 crore.
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