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Zee, Wipro, Infosys top 'wealth destroyers'

08-May-2001
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Zee, Wipro, Infosys top 'wealth destroyers'

Subhash Chandra's Zee lost about Rs 37,000 crore (87 per cent) of its Rs 42,377 crore m-cap on March 31, 2000, while N R Narayana Murthy's Infosys shed about Rs 32,000 crore (54 per cent) from Rs 58,877 crore in the previous year-end.

Azim Premji's Wipro Group companies alone shed about Rs 95,000 crore (75 per cent) of its m-cap from the astronomical Rs 1,25,879 crore in March-end 2000.

The three market movers, which together added Rs 1,96,780 crore to the shareholders' wealth during 1999-2000, lost about Rs 1,64,000 crore in m-cap last fiscal year.

While HCL Group witnessed about Rs 20,000 crore decline in m-cap from its previous year's level of Rs 34,155 crore, the Satyam Group companies shed about 74 per cent of their m-cap from Rs 24,906 crore at the end of 1999-2000.

According to latest available data, aggregate m-cap of the 10 top wealth creating group companies of Wipro, Zee, Infosys, HCL, Satyam, Himachal Futuristics Communications, Global Tele, DSQ Software, Usha and Unilever India, declined by about Rs 2,50,000 crore last fiscal year from previous year's m-cap of Rs 3,86,000 crore.

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