Reliance group is India's top wealth creator: CMIE

The Reliance Group has emerged as the country's largest wealth creator in the private sector during the financial year 2003-04 based on market capitalisation.

The group has more than doubled its shareholder wealth to Rs 94,968 crore as on March 31, 2004, compared with Rs 44,362 crore on March 31, 2003.

The Tata group and the Bharti Telecom group were the second and third largest wealth creators at the end of the year with the market capitalisation at Rs 57,667 crore and Rs 28,708 crore, respectively.

The market capitalisation of Tata group has grown by Rs 36,964 crore and that of Bharti Telecom group was up Rs 23,463 crore.

The "Top 10 wealth creator groups" in 2003-04 added market capitalisation worth Rs 1,80,391 crore to reach Rs 3,08,821 crore, according to a media release by Reliance.

The analysis is based on the data of the Centre for Monitoring Indian Economy (CMIE). In the individual company category Reliance Industries has emerged as the largest wealth creator in the private sector with the market cap up by Rs 36,529 crore to touch Rs 75,132 crore.

The telecom service operator Bharti Tele-Ventures stood second by adding Rs 23,417 crore wealth to record a market cap of Rs 28,662 crore and Tata Motors on the third slot adding wealth of Rs 11,866 crore to a market capitalisation of Rs 16,844 crore.

The other wealth creators in terms of market capitalisation during the year were the Bharti Group, whose market capitalisation surged by Rs 23,463 crore to Rs 28,708 crore on March 31, 2004 and Aditya Birla Group up by Rs 13,277 crore to Rs 22,729 crore at the fourth slot.

Housing major Housing Development Finance Corporation stood fifth with the market capitalisation at Rs 26,677 crore. At the sixth rank slot was cigarettes and FMCG major ITC Group at Rs 26,533 crore, followed by the banking sector major ICICI Group at the seventh slot with a market capitalisation of Rs 18,395 crore.

The Larsen & Toubro Group with Rs 14,282 crore, Sterlite Group Rs 8,505 crore and Hero Group (Munjals) with market cap of Rs 10,361 crore stood at the eighth, ninth and tenth slots, respectively.