Ambanis may be cracking whip on stock market bulls that have lifted investors wealth by 5 trillion, 20% of which is accounted for by their own companies.
MUMBAI: The Ambani brothers may well be cracking the whip on the stock market bulls that have lifted investors wealth by Rs five trillion, 20 per cent of which is
accounted for by their own companies.
The ongoing surge in the stock market has seen the market value of all Indian companies growing by about Rs 20 trillion since the beginning of the current fiscal -- out of which about Rs four trillion has been contributed by the companies controlled by the two Ambani groups.
Moreover, this gain of about Rs four trillion in market value is nearly double of the additional wealth created by the companies controlled by three other entrepreneurs who make up the list of five richest businessmen in India.
Mukesh Ambani group companies, led by the country's most valued firm Reliance Industries, have contributed close to Rs 2.5 trillion to the rise in investors' wealth, followed by about Rs 1.5 trillion by the ADA group.
In comparison, Bharti Airtel, led by Sunil Mittal, has seen its market value soaring by over Rs 75,000 crore in the same period, while KP Singh-led realty giant DLF Ltd has added close to Rs 1.5 trillion to the investors' kitty. DLF was not listed at the beginning of this fiscal.
Wipro, led by the fifth richest Indian Azim Premji, has actually seen its market value declining by Rs 3,800 crore.
The market benchmark Sensex has gained about 6,000 points or about 45 per cent during this period, while the total investor wealth has grown to over Rs 58 trillion from just about Rs 38 trillion at the end of last fiscal.
The country's ten most valued firms -- including PSUs, ONGC, NTPC and BHEL besides RIL, Reliance Comm, Bharti Airtel, DLF and ICICI Bank, have contributed a total of about Rs 9 trillion to the gain in investors' wealth.
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