Adani Cos offsets Mcap losses from tech firms | News from Mumbai | News Bharat

MUMBAI: The combined valuation of India’s 500 largest companies in 2022 remains unchanged at Rs 226 lakh crore from 2021 despite economic growth. This is because 191 companies led by IT firms and listed startups lost Rs 18.3 lakh crore. But the Adani Group companies added several lakhs of rupees which made up for these losses.
The biggest value losers in the ‘2022 Burgundy Private Hurun India 500’ are startups like PolicyBazaar, Paytm, Zomato and Nykaa which lost 68%, 59%, 50% and 48% of their value respectively from last year. In absolute terms, IT companies have lost around Rs 6 lakh crore. Software and services companies, which include TCS, Infosys, Wipro, HCL Technologies and Tech Mahindra, reported a combined decline of 22%.
In the list of the best private companies by valuation, Adani Group companies were the biggest gainers by value (see chart). Four Adani Group companies have added Rs 7.6 lakh crore to valuations.
The four unicorns — Nykaa, Zomato, Paytm and PolicyBazaar — that listed on the stock exchanges in 2021 had a tough year as they lost a cumulative Rs 2 lakh crore.
“Sectors enjoying strong growth are energy, retail, hospitality and consumer goods. The software and services sector was the worst hit and cumulatively lost Rs 6 lakh crore last year. Amid inflation and a looming recession, Indian IT outsourcing companies are expected to slow down in closing major deals,” said Anas Rahman JunaidMD and Principal Investigator, Hurun India.
“This year, the threshold for entering the Hurun India 500 list was Rs 6,000 crore, which is 15% more than last year. That’s impressive considering the Hurun Global 500’s entry bar has dropped 23%. The Burgundy Private Hurun India 500 shows that India is perhaps the brightest spot amid global economic turmoil. At this growth rate, the listing cut-off could be closer to Rs 10,000 crore in five years,” Junaid said.

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