Ups and downs are part and parcel of wealth creation. This list reflects just that. Here are the biggest gainers and losers over the last year, ranked in terms of percentage change in net worth
The Biggest Gainers
BR Shetty
New Medical Centre Group, UAE
+ $340 mln (+63%)
(Rank 72; moved 25 places)
The founder of NMC Healthcare is among the more low-profile names on the Rich List, but he is also our biggest gainer this year. The 71-year-old from Udupi, who made his fortune in Abu Dhabi in the health care and money transfer business, listed his company on the London Stock Exchange in 2012. As sales grew, the stock price climbed and, with it, his net worth.
Shiv Nadar, HCL Tech
+ $3 bln (+54%)
(Rank 7; moved 6 places)
Shiv Nadar’s wealth is tied mainly to the value of HCL Technologies, the IT services company he founded in 1991. Long tagged as the dark horse among the top five in the sector, HCL Tech has surprised the market by being able to grow margins as well as cut costs. Stock price over the past one year grew 80 percent aided by a devalued rupee and higher earnings. Pursuing infrastructure management deals that come up for renewals at a lower price has proved to be an effective strategy.
Dilip Shanghvi, Sun Pharma
+ $4.7 bln (+51%)
(Rank 3; moved 2 places)
Dilip Shanghvi becomes India’s third richest man on the back of a huge jump in the Sun Pharmaceuticals stock price, which shot up by 58 percent outperforming the Sensex. Apart from overall growth, the stock was boosted by the blockbuster sales of generics cancer drug Doxorubicin, whose innovator Janssen Pharmaceuticals admitted to its short supply and, instead, directed buyers to Sun.
Vikram Lal, Eicher Motors
+ $310 mln (+49%)
(Rank 67; moved 24 places)
Vikram Lal’s rise has been led by Eicher’s incredible run on the bourses in the past year. The stock jumped from Rs 2,280.05 in October, 2012, on the BSE to Rs 4,040 in October, 2013. The growth can, in part, be attributed to the two-wheeler business. Royal Enfield’s sales grew by 52 percent, even though commercial vehicle sales remained flat. If he continues at this rate, Lal is set to join the billionaires list next year.
Desh Bandhu Gupta, Lupin
+$850 mln (+36%)
(Rank 19; moved 8 places)
A strategic call to move to chronic diseases like diabetes, asthma and central nervous system disorders have boosted Lupin’s growth over the past three years. DB Gupta has been able to make steady inroads into the US and Japanese markets with a steady pipeline of products. Revenue from Japan, in 2013, jumped 52 percent over the previous year. Shares of the company are up by 60 percent in the last year on rising profits.
The Biggest Losers
(This story appears in the 28 November, 2013 issue of Forbes India. To visit our Archives, click here.)