The Hindu Business Line : India-focused cos cross $6 b market cap on AIM

NEW DELHI: India-focused companies on the London Stock Exchange's Alternative Investment Market (AIM) crossed $6 billion in market capitalisation with the stocks registering an average growth of 52 per cent in valuation till April.

The market capitalisation of a total of 23 India-focused firms listed on AIM touched $6.33 billion from their respective dates of admission to the end of April, says a report from global consultancy Grant Thornton.

Further, the average increase in market capitalisation of these companies stood at 52 per cent during the same period. In terms of percentage gains, Great Eastern Energy Corporation topped the list with a premium of nearly 600 per cent on its market cap italisation on admission.

The jump translates into 126 per cent growth on Compounded Annual Growth Rate (CAGR) basis, the report said. The firm, listed in December 2005, had raised capital worth about £19 million.

However, majority of the companies had witnessed substantial decline in their respective market capitalisation.

While nine India-focused companies saw their market capitalisation rise till April 14 firms recorded decreased valuation during the same period.

Companies such as UMP Plc, Hirco Plc, Indian Film Company (The) Ltd, Dev Property Development Plc and CBay Systems Holdings Ltd saw substantial decline in their respective valuations. - PTI

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