Reliance Industries Becomes Top Wealth Creator Once Again

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Mukesh Ambani-led has become India's largest wealth creator for third consecutive time by generating a wealth of ` 1,51,400 crore. It accounted for more than 15 per cent of the accumulated wealth created during 2009 fiscal year in India.

The Managing Director of Motilal Oswal Financial Services that conducted the 14th Wealth Creation Study, Mr. Raamdeo Agrawal announced in a statement that, “RIL has emerged as the biggest wealth creator for the third time in a row. It has created ` 1,51,400 crore worth of wealth contributing 15.6 per cent of the total wealth created in 2008– 09”.

It has also been found from the study that, the biggest wealth creators of India in the past six years are from oil and gas sector. It can be said here that, ONGC led the first three years, while RIL is the front runner in the next three.

It can be also be added here that though Reliance Industries Limited lead the list of wealth creator in 2009, real estate company Unitech emerged as the winner in the category of fastest wealth creator.

At a time when Sensex made a dip dive from 21,000 to around 9,000 in a short period of time, the performance of Reliance Industries Limited was commendable. Wealth created is estimated by calculating the change in company's market cap between 2003 and 2009. Adjustments for corporate events like mergers & de-mergers, fresh issuance of capital and buybacks etc. are made accordingly.