RIL, Unitech, HDFC lead wealth creators

RIL, Unitech, HDFC lead wealth creators
Hindustan Times, December 18, 2009, Page 27

HT Correspondent

Reliance has come up as the biggest wealth creator in the country’s stock market for third time in a row while realty firm Unitech is the fastest and housing lender HDFC is the most consistent creator of wealth, said the Motilal Oswal Securities Ltd’s (MOSL) study on wealth creation.

The annual study also predicted exponential growth in consumption, saving and investment leading India towards a $2-trillion (over Rs 93.8 lakh crore) GDP mark.

The study credits RIL with creating over Rs 1.5 lakh crore worth of wealth contributing 15.6 per cent of total wealth crated in the fiscal year ended March 2009. Unitech, with its 5-year stock price compound annual growth rate (CAGR) at 122 per cent was the fastest wealth creator during the 2004-09 period.

HDFC is seen as that most consistent with its 10-year price CAGR being the highest at 24.9 per cent.