The Reliance Group and the Tata Group have emerged as first and the second largest wealth creators in the private sector for the financial year 2003-04, based on market capitalisation of group entities.

The Reliance Group more than doubled its shareholders' wealth from Rs 44,362 crore (Rs 443.62 billion) as on March 31, 2003 to Rs 94,968 crore (Rs 949.68 billion) at end of March 2004, according to analysis based on Centre for Monitoring Indian Economy data.

The Tata Group's market cap grew by Rs 36,964 crore (Rs 369.64 billion) to Rs 57,664 crore (Rs 576.64 billion).

The market cap of telecom major Bharti Group, which was the third largest wealth creator, was up by Rs 23,463 crore (Rs 234.63 billion) to Rs 28,708 crore (Rs 287.08 billion) as on March 2004.

The 'top 10 wealth creator groups' for the fiscal year 2003-04 added market capitalisation worth Rs 180,391 crore (Rs 1,803.91 billion) to touch Rs 308,821 crore (Rs 3,088.21 billion).

The other wealth creators in terms of market capitalisation during the year 2003-04 were the Aditya Birla Group (Rs 13,277 crore), which stood fourth, while housing major, Housing  Development Finance Corporation (Rs 11,935 crore) stood fifth.

On the sixth rank was cigarettes and FMCG major ITC Group (Rs 10,815 crore), followed by the banking sector major ICICI Group (Rs 10,105 crore) at the seventh slot.

Larsen and Toubro Group (Rs 9,690 crore), Sterlite Group (Rs 7,167 crore) and Hero Group (Munjals) with Rs 6,369 crore stood eighth, ninth and at tenth, respectively, in the list.

In the individual company category, Reliance Industries Limited emerged as the largest wealth creator in the private sector. The market cap of Reliance flagship grew by Rs 36,529 crore (Rs 365.29 billion) to Rs 75,132 crore (Rs 751.32 billion).

Bharti Tele-Ventures Ltd, in the second slot, added wealth to the tune of Rs 23,417 crore (Rs 234.17 billion) to Rs 28,662 crore (Rs 286.62 billion) followed by Tata Motors at the third position at Rs 11,866 crore (Rs 118.66 billion).

Reliance Energy Ltd was ranked fourth in terms of market capitalisation. Its market cap grew from Rs 2,967 crore (Rs 29.67 billion) to Rs 13,431 crore (Rs 134.31 billion) at end of March 2004.