New Delhi: 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 and Wipro, as also that of Sun Pharma.
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 Murhty 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'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 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.
The stock market performance of Anil Ambani-led group's companies was a mixed bag. Consequently, holdings of his children -- Jaianmol and Jaianshul -- stood at over Rs 31 crore. While shares of group's telecom arm Reliance Communications rose, that of financial services unit Reliance Cap and infrastructure firm R-Infra fell.
Godrej scions --Tanya, Pirojsha, Nisaba and Firoze -- finished the year at Rs 960 crore worth of shares held in Godrej Industries (down about 13 per cent) and Godrej Consumer (up around 17 per cent) in 2013.
O P Jindal group's next-gen leaders Tarini, Tanvi and Parth's holdings in JSPL, JSW Steel and JSW Energy saw their total kitty end lower at Rs 560 crore.
Anant, son of RPG Group chairman Harsh Goenka, also saw a mixed bag with the value of shares he controls in CEAT zooming while KEC slipped.
However, an over 70 per cent plunge in Wockhardt shares dragged down the market value of holdings of Habil Khorakiwala's sons -- Murtaza and Hozaifa.
