Mumbai, Dec. 15: Tata Consultancy Services (TCS), the country’s largest exporter of IT services, has emerged as the biggest wealth creator for the 2008-2013 period, pipping ITC to the second place.
A study by Motilal Oswal analysed wealth created by 100 companies between 2008 and 2013 in terms of their market capitalisation, after adjusting for mergers, demergers, fresh issuance of capital and buy back of shares.
The wealth created by TCS stood at Rs 2,28,400 crore and ITC at Rs 1,63,500 crore.
TTK Prestige was the fastest wealth creator during the period, with its stock price multiplying 28 times and translating into an annual return of 95 per cent — almost double every year. TTK Prestige was followed by Eicher Motors, Page Industries, Wockhardt and Grasim.
Reliance Industries was the largest wealth destroyer followed by Anil Ambani firm Reliance Communications.