Five Gujarat companies’ m-cap crosses Rs 50,000 crore in 2021 | Ahmedabad News

AHMEDABAD: Gujarat Gas Limited (GGL) Market capitalization crossed Rs 50,000 crore on Friday. With this, five Gujarat-based companies have achieved this milestone in 2021 thanks to a strong rebound in their share price.

In addition to GGL, which is owned by the Gujarat government, four other companies that have reached the 50 billion rupee club and more m-cap this year are Cadila Healthcare Ltd, Torrent Pharmaceuticals Ltd, Adani Total Gas Ltd (ATGL) and Adani Transmission Ltd (ATL).
The number of Gujarati companies in this coveted club has more than doubled in 2021 with the stock markets on the rise. Before the current calendar year, companies with a market capitalization of more than Rs 50 billion included companies such as Adani Enterprises Limited (AEL), Adani Green Energy Limited, and Adani Ports and Special Economic Zone Ltd (APSEZ).
Most of these companies, which have registered a market capitalization of more than Rs 50 billion this year, belong to the city's pharmaceutical and gas distribution (CGD) sectors.
"CGD players such as GGL and ATGL have benefited from increased demand and consumption of natural gas, while pharmaceutical companies have benefited from growth in demand in the wake of the Covid-19 pandemic," he said Nilesh kotak, a city-based equity analyst.
"Cadila Healthcare's share price has nearly doubled in a year following its strong finances and developments related to its Covid-19 vaccine," said Aasif Hirani, director of an Ahmedabad-based brokerage firm.
'Covid helped almost every pharmaceutical cos'
Aasif Hirani, director of an Ahmedabad-based brokerage firm, said: “Cadidla Healthcare is one of the indigenous companies that has started clinical trials in children for its Covid vaccine. Covid has helped almost every pharmaceutical company. "" Compared to other pharmaceutical companies, Torrent Pharma has underperformed as its total revenue growth has been inconsistent. However, its EBITDA margin is expected to increase with the reactivation of the business in the United States and Brazil along with some new product launches ”, added Hirani.
While GGL, ATGL and ATL entered the 50 billion rupee plus m-cap club for the first time, Torrent Pharma had seen its market cap cross that mark for a brief period last year and Cadila Healthcare witnessed that ago. some years.