New Delhi: Driven by the strong bull run in the stock market, Mukesh Ambani-led Reliance Industries has been ranked as the biggest wealth creator in the five year period from 2003 to 2008, a latest study compiled by brokerage firm Motilal Oswal says.

Realty major Unitech has emerged as the fastest, while Infosys tops the list of the most consistent wealth creators.

Reliance Industries has amassed a wealth of Rs 3,07,700 crore in the 2003-08 period, and is followed by state-run ONGC (Rs 1,59,300 crore), Bharti Airtel (Rs 1,50,500 crore), NMDC (Rs 1,35,600 crore) and MMTC (Rs 1,08,400 crore).

In 2003-08, top 10 wealth creating companies accounted for 49 per cent of wealth created compared to 76 per cent during 1998-2003, according to Motilal Oswal’s latest wealth creation study.

“The strong bull run in the market has led to a wider participation in the wealth creation process,” the study stated.

Further, commodities led by Oil and Gas had been the front runners in 2003-08, even as change of leadership is almost certain going forward. In the period under review, two dominant themes have emerged which involve — Real estate and commodities.

Interestingly, Unitech has been ranked as the fastest Wealth Creator during 2003-08, with a five-year stock price Compounded Annual Growth Rate (CAGR) of a whopping 284 per cent, the highest ever in the past Wealth Creation studies.

The fastest wealth creator list also includes, Jai Corp, state-run MMTC, Financial Technologies, BF Utilities and Aban Offshore.

Infosys which has been named as the most consistent wealth creator, is followed by Hero Honda and Pharma major Ranbaxy. The IT major has been ranked as the most consistent by virtue of its higher price CAGR, it added.

Meanwhile, the study also enlisted top wealth destroyers in 2003-08, which includes PSU firm HPCL and country’s largest two-wheeler manufacturer TVS Motor.

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