Tata Group becomes India's biggest

India’s family-controlled Tata Group has become the country’s wealthiest company. The group, headed by Ratan Tata, said that its total market value is $98.7 billion, overtaking the combined value of fellow family-controlled Reliance groups, worth a reported $81.6 billion.

The buoyant growth for the Tata Group comes following a rise in share price of its listed companies, while a string of controversies caused a slump in value of Reliance, controlled by the feuding Ambani brothers.

The result is positive for the Tata Group, currently on a hunt to find a suitable replacement for fifth- generation Tata, who will retire in December next year.

A panel appointed to find a successor said in May that it was struggling to find a candidate to match Tata, who transformed the conglomerate from a $6 billion company in 1991 to one worth almost $100 billion today.

The committee was expected to name the successor in May, but has so far made no announcement.