Torrent Group market capitalisation doubles to USD 20 billion in a year
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The Torrent Group, a diversified conglomerate, surpassed $20 billion (Rs 1.68 lakh crore) in market capitalization on Friday. This represents nearly a doubling of its market value, driven by robust growth across businesses, ranging from pharmaceuticals to energy.
Torrent Group's m-cap stood at $10.8 billion (Rs 90,230 crore) on June 6, 2023.
On Friday, two listed companies of the group, Torrent Pharmaceuticals Limited and Torrent Power Limited gained 2.22 per cent and 2.59 per cent, respectively, setting a new milestone for the group's market capitalisation at $20.2 billion at the close of market hours, according to stock exchange data.
Steady growth in the group's market capitalisation mirrors robust financial performance, sustained growth trajectory and business expansions across verticals.
At the core of its growth strategy is the business model driven by acquisitions.
The group has already implemented a succession plan where the third generation of the founder late UN Mehta has assumed all prominent driving seats across businesses.
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