Tata Consultancy Services (TCS) has emerged as the biggest wealth creator during 2012–2017, finds the latest Motilal Oswal Wealth Creation Study
by Raamdeo Agrawal, co-founder and joint managing director of the group.
has emerged as the biggest wealth creator for the period 2012-17, retaining the top spot it held in the previous four study periods (2011-16, 2010-15, 2009-14 and 2008-13). Reliance Industries
(RIL) has muscled its way to the third position after not featuring in the wealth creators list in the previous study," the findings suggest.
The study defines wealth created as the difference in market capitalisation over a period of past five years, after adjusting for equity dilution.
Despite the headwinds the sector is facing, Ajanta Pharma
has emerged as the fastest wealth creator for the third time in a row, with 2012-17 stock price multiplier of 29x (96 per cent compound annual growth rate). Eicher Motors has been among the top 10 fastest wealth creators for the past six studies, and Bajaj Finance in the past four.
On the other hand, MMTC, Jindal Steel, Coal India, and BHEL
were among the top 10 wealth destroyers during this period. Anil Ambani-owned Reliance Communications and Reliance Power also feature in this wealth destroyer list at the sixth and tenth positions, respectively. Among sectors, metals and mining, trading, banking and finance, and construction, real estate and utilities are among those that have destroyed wealth, the study says.