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This is an archive article published on March 21, 2011
Mukesh powered Nifty more than Anil
Ever since the Ambani brothers split,Mukesh easily beaten Anil at powering stock market.
Written by Devangi G
Mumbai | March 21, 2011 03:21 AM IST
2 min read
2 min read
Ever since the Ambani brothers formally split in 2005,Mukesh Ambani-promoted Reliance Industries has been the single largest contributor to the Nifty’s gains. RIL added 489 points to the Nifty,which moved 3442 points. In other words,nearly 14% of the Nifty gains,during the period,have come from RIL which currently has a weightage of 10.5% in the 50-scrip index.
On a group-wise basis,Mukesh Ambani stocks have led to a gain of 542 points in the Nifty since January 2005,while Anil Ambani led ADAG group contributed a negative 24 points. While some of the outperformance has to do with higher weightages in the index,RIL’s share price has also moved up sharply.
This year many analysts are expecting RIL to outperform the market,in the last two years the stock has been a drag on the Nifty. While in 2010,it pulled the Nifty down by 29 points,in 2011 till date,it was even more at 37. ADAG stocks,during this period,have done relatively better with its stocks contributing to 5 points in 2010 and negative 25 points in 2011.
FE had considered all the Ambani companies that were part of Nifty index at any point of time during the period starting January 2005. These include RIL,Reliance Power,Reliance Capital and Reliance Communications. While RIL remained the top contributor to index gains (489 points),as mentioned earlier,it was followed by Infosys(285),ONGC (224),ITC (216) and SBI (205).
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