India's 10 Largest Wealth Destroyers In 2013

Bangalore: While software major TCS (Tata Consultancy Services) is in buoyant mode as investors gained the most in terms of market capitalization, Reliance Industries and RCom made headlines for topping the list of companies for being the biggest wealth destroyer, reveals a study done by  Motilal Oswal, financial services company.

A wealth creation study was conducted to analyze the total wealth created by 100 companies between 2008 and 2013 in terms of their market capitalization, after adjusting for mergers, demergers, fresh issuance of capital and buy back of shares, reports PTI.

Let’s have a look at the 10 companies that became the biggest wealth destroyers out of 100 companies in India, as listed by rediff.com.

1. Reliance Industries

Once the biggest wealth creator, Reliance Industries, is now became the largest wealth destroyer between 2008 and 2013. Unbelievable! Reliance has topped the list as the biggest wealth destroyers, a company which was generated maximum wealth consistently for five years. Reliance was considered dearest to market during 2007 to 2011 period, but they witnessed a destruction of wealth of over 11,28,700 crore which would be almost 7 percent wealth. Markets won’t spare anyone in such cases of destruction.

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