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Tata Group’s market value now bigger than Pakistan's GDP

TBP Desk
20 Feb 2024 22:13:10 | Update: 20 Feb 2024 22:13:10
Tata Group’s market value now bigger than Pakistan's GDP

Tata Group's market capitalisation is now bigger than the entire economy of Pakistan as several companies of the conglomerate gave massive returns in one year, reports Hindustan Times.

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?

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.

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 per cent in FY22, 5.8 per cent 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.