Mumbai, Feb 13: Chennai-based SSI Ltd has bagged this year's fastest Wealth Creator Award instituted by Motilal Oswal Securities Ltd, while Bangalore-based Wipro Ltd garnered the biggest Wealth Creator Award, based on performances in the capital market from 1995 to 2000. Like they did last year, infotech companies remained the fastest wealth creators this year also.Incidentally, Wipro follows SSI Ltd (CAGR of 194.6 per cent of adjusted market cap over five years) closely in terms of fastest wealth creators with a growth of 194.1 per cent CAGR, the securities company MD Motilal Oswal told The Financial Express here on Tuesday. "Sustained earnings growth is the biggest driver of wealth creation for corporate investors and high-growth (more than 25% per annum) companies are found to be greater contributors to this aspect. To reward those companies excelling in both these parameters, the awards were instituted," Mr Oswal said. Infosys, Satyam Comp and Information Technologies (I) Ltd follow Wipro in that order in this category.
Infosys Technologies follows Wipro (net wealth/market cap of Rs 124,710 crore) in the category of the biggest wealth creators with Rs 58,265 crore of net wealth.
The awards would be presented on Feb 21, where JJ Irani of Tata Steel would be chief guest.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
