It’s HCL tech once again

Apr 01 2014, 23:59 IST
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SummaryIn the past couple of months, elections rather than earnings have guided the markets; Indian equities have rallied to new highs as investors

In the past couple of months, elections rather than earnings have guided the markets; Indian equities have rallied to new highs as investors believe a BJP-led coalition could form the next government. That has prompted investors to buy into banks and capital goods, which are expected to do well as the economy picks up. However, there are a host of other stocks that have gained probably because investors feel that the business houses to which these companies belong will prosper under the new regime. The Shiv Nadar-led HCL Group continued to command the top spot among wealth creators for a second consecutive year; the Tatas, the Mukesh Ambani-led Reliance Group, Aditya Birla Group and Anil Agarwal's Sesa Sterlite did well to give investors good returns. Unlike the previous fiscal, most leading business houses turned wealth creators in FY14, beating the Sensex handsomely. Conglomerates like Mahindra & Mahindra, for instance, saw a smart increase in their m-cap.

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