Consumer, financial cos dominate wealth creation list
ITC, HUL and Tata Motors boasted amongst the top ten wealth creators from the consumer space. HDFC Bank, HDFC and State Bank of India represented the financial sector as the third, fifth and sixth biggest wealth creators. IT majors, TCS and Infosys, that stood at the second and seventh position, respectively, concluded the list along with Jindal Steel.
ITC not only topped the list for the first time, but also managed to break the 8-year long-hold of oil & gas companies — Reliance Industries in the last five years and ONGC in the three years prior to that — as the biggest wealth creators.
After adjusting for equity dilution, the study checked the change in the market-cap of the companies to arrive at the top ten wealth creators. The study also applied an additional criterion of market out-performance. The companies features in the list, thus, had to beat the 6% CAGR growth posted by the Sensex in the last five years. As a result, names like ONGC, Reliance Industries, Wipro, Hindalco,
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