The year 2012 appeared to be the year of the underdogs. The highest wealth creators this year were the less-fancied groups such as Chennai-based Ramco Indiabulls, Godrej and BK Birla. The surprise, however, was the embattled UB Group.
The UB Group, which has under its fold seven companies, mainly in liquor and aviation, topped the list of wealth creators for 2012, as its market capitalisation tripled in the past one year, driven primarily by theUnited SpiritsBSE 2.81 % (USL) deal, its biggest company with Diageo, the world's most profitable liquor company, which led to a rerating of USL.
Both the Ramco and the BK Birla Groups, which mainly have interests in the cement industry, gained from the favourable outlook of the industry. The BSECement Index rose by 45% in 2012 compared to a gain of 27% in the Sensex.
"The cement industry suffered last year due to demand-supply mismatch. However, this year due to better production discipline, companies were able to maintain their margins.
The Street believes that the margins in the coming quarters will go up, which has led to a rally in thesestocks," said Rajesh Ravi, senior analyst at Karvy. The Indiabulls Group, with a presence in real estate and housing finance, on the other hand gained from the reversal in the interest rate cycle.
"Indiabulls' financials reported a healthy growth in disbursements and become the second-largest housing finance company this year," says Hardik Shah, analyst at KR Choksey.
The Godrej Group, with a diver-sified presence in consumer, real estate, agro and chemicals, benefited from an improved show across all its businesses. All its group companies outperformed the respective industry indices, propelling the company to the list of top five leading wealth creators of 2012.
Amongst the top five groups by market capitalisation, the Mukesh Ambani-led Reliance Group and Tata Groupunderperformed the benchmark Sensex. Their market capitalisation rose 16% and 25%, respectively, while theSensex gained 27%. The HDFCBSE 0.60 %, Aditya Birla and ICICIBSE 1.92 % Groups outperformed the Sensex as their market capitalisation rose 48%, 37% and 66%, respectively.
The UB Group, which has under its fold seven companies, mainly in liquor and aviation, topped the list of wealth creators for 2012, as its market capitalisation tripled in the past one year, driven primarily by theUnited SpiritsBSE 2.81 % (USL) deal, its biggest company with Diageo, the world's most profitable liquor company, which led to a rerating of USL.
Both the Ramco and the BK Birla Groups, which mainly have interests in the cement industry, gained from the favourable outlook of the industry. The BSECement Index rose by 45% in 2012 compared to a gain of 27% in the Sensex.
"The cement industry suffered last year due to demand-supply mismatch. However, this year due to better production discipline, companies were able to maintain their margins.
The Street believes that the margins in the coming quarters will go up, which has led to a rally in thesestocks," said Rajesh Ravi, senior analyst at Karvy. The Indiabulls Group, with a presence in real estate and housing finance, on the other hand gained from the reversal in the interest rate cycle.
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"Indiabulls' financials reported a healthy growth in disbursements and become the second-largest housing finance company this year," says Hardik Shah, analyst at KR Choksey.
The Godrej Group, with a diver-sified presence in consumer, real estate, agro and chemicals, benefited from an improved show across all its businesses. All its group companies outperformed the respective industry indices, propelling the company to the list of top five leading wealth creators of 2012.
Amongst the top five groups by market capitalisation, the Mukesh Ambani-led Reliance Group and Tata Groupunderperformed the benchmark Sensex. Their market capitalisation rose 16% and 25%, respectively, while theSensex gained 27%. The HDFCBSE 0.60 %, Aditya Birla and ICICIBSE 1.92 % Groups outperformed the Sensex as their market capitalisation rose 48%, 37% and 66%, respectively.
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