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Time of India
8 hours ago
- Business
- Time of India
2,013 Indian wealth creators are worth Rs 100 lakh crore, Ambanis top the list
2,013 Indian wealth creators together hold a staggering Rs 100 trillion (Rs 100 lakh crore) in assets, with Akash Ambani and Anant Ambani emerging as the richest Indians with a net worth of Rs 3.59 lakh crore each, according to the inaugural edition of the 360 ONE Wealth Creators List , released by 360 ONE Wealth in collaboration with Crisil . These 2,013 Indian wealth creators represent roughly one-third the size of India's GDP. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Neuropathy is not from Low vitamin B. Meet the Real Enemy of Neuropathy (Stop Doing This) Health Insight Journal Learn More Undo According to the report, 161 individuals have net worth exceeding Rs 100 billion, while 169 others are worth between Rs 50 billion and Rs 100 billion. Members and promoters from the Tata Group, Reliance Industries , and the Adani Group account for nearly 24% of promoter wealth, estimated at Rs 36 lakh crore. India's top 50 business houses alone contribute to 59% of the overall wealth captured in the report. Among women, Isha Ambani ranks as the richest business owner, topping the list of 540 women included in the rankings. The report further highlights that women comprise 24% of India's total wealth and have a relatively higher representation in the pharmaceutical sector, making up 33% of pharma's rupee billionaires. Live Events Women who inherited wealth are, on average, 23% richer than their male counterparts, and 10% of women heirs on the list belong to the Rs 100-billion cohort. The 360 ONE Wealth Creators List set a minimum eligibility criterion of Rs 500 crore in net worth, with the median wealth pegged at Rs 1,423 crore. The report shows that 71% of wealth creators are men, who hold 76% of the total wealth. While 62% remain actively involved in their businesses, about 93% of total wealth is concentrated in publicly listed companies. Further, Mumbai leads as the financial capital with 577 wealth creators, who account for 40% of the total wealth on the list. New Delhi and Bengaluru follow with 17% and 8% respectively, while Ahmedabad contributes 5%. Also read: Nifty Internet index outperforms peers with 19% returns since Feb launch. Is the dotcom boom here to stay? Notably, India has 143 active wealth creators under the age of 40, with Shashwat Nakrani of BharatPe being the youngest at 27 years. The report also notes that one-third of the Rs 150 trillion total tracked wealth is held via trusts and promoter-controlled corporate entities, with trusts like Sir Dorabji Tata Trust and Sir Ratan Tata Trust holding approximately Rs 8.2 trillion collectively. Additionally, 30 first-generation entrepreneurs on the list have created wealth in cutting-edge sectors like biopharma, biotech, fintech, and drones. Among these women leaders, 72 have been actively involved in value creation, with 29 of them making their mark in sectors such as healthcare, pharma, IT, and engineering. Of these, 21 are first-gen entrepreneurs, largely focused on e-commerce, IT services, and financial platforms, collectively accounting for 72% of all first-generation women's wealth.
Time of India
11 hours ago
- Business
- Time of India
Defence stocks jump up to 3% amid rising Iran-Israel tensions, defence budget boost hopes
Defence stocks rallied up to 3% on Tuesday, in intraday trade amid rising geopolitical tensions between Iran and Israel, coupled with the hopes of an increased defence budget by the government. The heightened global uncertainty appears to have renewed investor interest in India's defence and aerospace segment, with several key stocks touching fresh day highs. Among the gainers, Data Patterns (India) shares surged the most, rising 3% to hit a high of Rs 3,049.50. It was followed by Bharat Dynamics Ltd (BDL) shares, which climbed 2.8% to touch Rs 1,940.70. BEML shares also witnessed strong momentum, gaining 2.2% to reach Rs 4,473.00. Meanwhile, Hindustan Aeronautics Ltd (HAL) shares rose 1.6% intraday, hitting Rs 5,130.50. The rise in these stocks may be attributed to the war tensions in the Middle East between Iran and Israel, as investors see potential in the sector along with an expectation of enhanced defence spending by the Indian government. Commenting on the recent spike in defence counters, Sankhanath Bandyopadhyay, Economist at Infomerics Valuation and Ratings, also said, 'Defence stocks look promising due to the ongoing geopolitical tussle between Iran and Israel. Moreover, the Indian government is likely to enhance defence spending from the current 2% of GDP to 3–4% over the next decade.' He added that with the government targeting Rs 25,000 crore in defence exports by 2025–26, the outlook for export-driven defence stocks remains strong. Also read: Nifty Internet index outperforms peers with 19% returns since Feb launch. Is the dotcom boom here to stay? 'In the current scenario, geopolitical tensions will likely be lingering between different countries, especially as being reflected in rising tensions in the Middle East. Investors should carefully assess the financials and outlook of such stocks before investing, and there should be a judicious mix so that a healthy dividend can also be earned,' he advised.
