Hours away from Diwali 2010 Mauhurat trading and the Nations Economic baromete measured by BSE Sensex and NSE Nifty closing at lifetime highs, we quickly ran a scan on the biggest wealth creators and destroyers in the Bust and the Boom cycle and Reliance Anil Dhirubhai Ambani – Reliance ADAG Group is crowned as the Biggest wealth Destroyer. RNRL, Reliance Communications, Reliance Capital and Reliance Infrastructure have destroyed your wealth a whopping 80-60% [ Remember, destruction or reduction in wealth can be at the most be 100% only] Hopefully, he gets serious at least now.
Other wealth destroyers include Suzlon, Unitech Jai Corp, IndiaBulls Group, DLF MTNL, Praj Inds. Ispat Inds etc.
The Top 10 wealth creators are – LIC Housing Fin, Lupin Cadila Health, Godrej Consumer, Castrol India Hero Honda Motor Mcleod Russel, Aurobindo Pharma, Dr Reddy’s Labs, Titan Inds. Read the Big List here.
As the Index hits new high, please stay away from rumors and management backed speculation in scrips [for example biggest wealth destroyer group]. Stick to fundamentals of investing.