- Market capitalisation of eight BSE Sensex firms up Rs 25,815 cr, Tata Consultancy Services, ONGC shine10 stocks to look out for in 2014: Sesa Sterlite, Wipro, Torrent Pharma, moreBSE Sensex drops 12 pts, NSE Nifty 13 as DLF, Infosys share prices fallBSE Sensex closes lower, Infosys Ltd, ICICI Bank share prices a drag
Stock market wealth of children of top honchos at the country's listed companies rose to over Rs 14,000 crore in 2013, led by those holding shares of IT majors like Infosys Ltd and Wipro, as also that of Sun Pharmaceuticals Industries.
This is based on the change in value of shares held directly by next generation business leaders, aged below 40 years, and does not include the family holdings and equity owned through other structures such as trusts.
Topping the charts, the children of Infosys founders saw the value of their combined shareholding soar by over 50 per cent to Rs 10,720 crore during 2013.
Among them, Akshata and Rohan Murthy saw the value of their shares soar to Rs 5,700 crore. Similarly, the value of shares allotted to former Infosys CEO Nandan Nilekani's children Nihar and Jahnavi rose to nearly Rs 1,200 crore, as per data compiled from BSE.
The next generation of other Infosys co-promoters like Meghana (Kris Gopalakrishnan), Divya & Deeksha (K Dinesh), Shruti & Shreyas (S D Shibulal) saw their kitties rise to Rs 215 crore, Rs 980 crore and Rs 2,610 crore, respectively.
Wipro Chairman and philanthropist Azim Premji's sons Rishad and Tariq also witnessed considerable surge in market value of shares held in their name. Rishad --- who is chief strategy officer of Wipro IT business -- saw the worth of his 6.87 lakh shares rise over 40 per cent to Rs 38 crore, while younger Tariq's holding increased to about Rs 15 crore. Among other notable winners, Aalok Shanghvi, son of Sun Pharma founder Dilip Shanghvi, and his sister Vidhi's combined kitty rode on the back of over 55 per cent uptick in the drug maker's stock price to touch about Rs 330 crore. Aalok is general manager of the company's international marketing team.
There was marginal change in the wealth of children of Cipla Ltd's M K Hameid Kamil and Samina -- ended mostly flat compared to 2012 level. Siblings Kamil and Samina hold Cipla shares worth Rs 850 crore.
The country's richest man Mukesh Ambani's children saw a moderate rise in their portfolio with Reliance Industries (RIL) rising around 6 per cent in 2013. The combined value of RIL shares held by Isha, Akash and Anant Ambani topped Rs 600 crore at the end of 2013.