TCS, Eicher Motors and Kotak Mahindra Bank have turned out be the fastest and most consistent wealth creators.
The information technology sector, which faced trouble during the 2008 financial crisis, has emerged as the biggest wealth creator from 2009, according to the 19th Annual Wealth Creation Study by Motilal Oswal Securities.
The best sector for wealth creation over 2009-14 has been information technology, as it has added Rs 7 lakh crore in investors' kitty.
The automobile sector, which grew at a compounded annual rate of 41 per cent, with profits after tax growing at 60 per cent, came next.
The profits were led by a “major profit turnaround in Tata Motors’ overseas subsidiary, JLR”, according to the study.
The study says overall outlook for the market remains robust and there is significant room for an upside.
“Subject to global factors, market cap/gross domestic product (GDP) of 77 per cent leaves room for about 50 per cent upside over the next two years, as market cap heads towards parity with GDP”.
Tata Consultancy Services, Eicher Motors and Kotak Mahindra Bank were the biggest, fastest and most consistent wealth creators.
*Disclosure: Kotak Mahindra and associates are significant shareholders in Business Standard Limited
