Financial Daily from THE HINDU group of publications
Thursday, Dec 01, 2005
Financial Daily from THE HINDU group of publications Thursday, Dec 01, 2005 |
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Corporate
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Announcements Markets - Stocks ONGC biggest wealth creator: Study Our Bureau
New Delhi , Nov 30 OIL and Natural Gas Corporation (ONGC) has been adjudged the biggest wealth creator for a five-year period (2000-2005). In a statement issued here today, the company said the Indian capital markets had adjudged ONGC in the category for the second consecutive time. ONGC had generated Rs 1,03,000 crore during the five-year period, according to the 9th Wealth Creation Study conducted by Motilal Securities. The 10th Wealth Creation Study shows that ONGC has created Rs 1,06,500 crore for its shareholders during 2000-2005, beating its nearest competitor, Indian Oil Corporation Ltd, by 100 per cent. The critical parameter used for evaluating the company was the change in market cap for the five-year period. ONGC's market cap, which stood at Rs 19,343 crore in 2000 increased to Rs 1,25,874 crore in 2005 — a whopping 550 per cent increase. Translated in net wealth terms, it would mean creating Rs 1,06,531 crore of value for shareholders over the five-year period under review, the company said.
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