The Indian capital markets have adjudged ONGC as the 'Biggest Wealth Creator' for the period 2000-2005.
This is for the second consecutive time that ONGC has been bestowed this prestigious honour.
The critical parameter used for evaluating the company was the change in market cap for the five-year period, i.e. March 31, 2000 to March 31, 2005. The market cap of the company, which stood at Rs 19,343 crore (Rs 193.43 billion) in 2000 increased to Rs 1,25,874 crore (Rs 1,258.74 billion) in the year 2005 -- a whopping 550 per cent increase.
Translating in net wealth terms, it would mean, creating Rs 1,06,531 crore (Rs 1,065.31 billion) of value for shareholders over the 5 year period under study.
Earlier, ONGC had emerged as the 'Biggest Wealth Creator,' creating Rs 1,03,000 crore (Rs 1,030 billion) worth of wealth during the five year period in the 9th Wealth Creation Study conducted by Motilal Securities.
The 10th Wealth Creation Study shows that ONGC has created Rs 1,06,500 crore (Rs 1,065 billion) worth of wealth for its shareholders during the period 2000-2005, beating its nearest competitor, Indian Oil Corporation Limited, by 100 per cent.
A distinguished gathering of foreign investors, corporate leaders, retail investors along with the entire Motilal Oswal Securities team would assemble in Mumbai in December this year, to share and appreciate, the organisation's valuable insights in achieving this splendid feat.
ONGC rates this as the highest recognition for the company from the investors who have put in their own money. "There cannot be any other better recognition than this for ONGC," company sources said.