Motilal Oswal, one of the biggest and most trusted names in the financial sector, recently launched its Annual Wealth Creation Study for this year. It revealed how the wealthiest top 100 of the country have gained 49 lakh crores over the past five years in the economy.
The primary reason behind this big figure is mostly the economies of the top 10 wealth creators: the brands that we all are aware of:
1. Reliance Industries
The company has made a record by rising by 39% over the past year and more than 250% over the past five years. It ranks first in the wealth-creating list with the biggest margin. The castle of Mukesh Ambani, it is India’s very own conglomerate headquartered in Mumbai, Maharashtra.
2. HDFC Bank
HDFC Bank rose by 22% in the past year and by more than 170% over the past five years, adding 4 lakh crores of wealth. It is the very same bank which was India’s largest by market capitalization in 2016, headquartered in Mumbai and currently chaired by Aditya Puri.
Tata Consultancy Services has gained about 74% over the past five years and 11% in the past year. The wealth addition has been Rs 3.6 lakh crore by the company backed with the name of Tata, one that India is proud of. It was recently named the top employer in Asia as well.
This is solely FMCG based company in the list, it has risen by 160 percent over the past five years and 6 percent over the past year. It has famous consumer brands like Knorr, Lipton, and Brooke under it.
5. Kotak Bank
Another private bank in the list, it has grown incredibly well by 40% over the past year and 179% over the past five years. It has many subsidiaries in the field of securities and insurance, where Uday Kotak has been leading the company to reach greater heights.
Founded in 1977, the work this NBFC does in the field of housing finance is commendable. It grew by 22% over the past year and a whopping 117 percent over the past five years. It has been performing brilliantly even after the NBGC crisis in India, having a low Non-Performing Asset profile.
7. Bajaj Finance
Another NBFC bank in the list, it rose the fastest, by 1145% over the past five years and 59% over the past one year. The company is a part of Bajaj Holdings and Investments Limited.
Highlighted as one of the best places to work in, Infosys grew by 45 percent over the past five years, adding Rs 1.49 lakh crores of wealth to the overall amount. The company was founded by Narayana Murthy and Nandan Nilekani and is headquartered in Bengaluru, Karnataka.
9. Maruti Suzuki
The sole representative of the automobile industry in this list, it added Rs 1.4 lakh crore but also has been an exception by losing 8% over the past year. However, it still occupies a major chunk of the market share and has been struggling due to the current economic slowdown.
10. Axis Bank
Another private financial service provider has grown by 52% over the past five years, adding a sum of Rs 1.2 lakh crore. It has multiple international offices as well and is headquartered in Mumbai, India.
It must be noted how this top-10 list comprises of mostly companies belonging to the financial sector which seems to be India’s saving grace in the current economic situation.