Page 10 - Seniorstoday January 2024 Issue
P. 10
After being the biggest shareholder Today, HCL Technologies
in HDFC Bank, Damani exited the is among India’s largest
stockmarket in 2000 and began building software services
a retail business by buying cheap land providers. The year 2023
in Navi Mumbai. He tested the ground saw Nadar’s wealth leap
with his first DMart store in 2002, seeing the highest to the tune of + $9.29B.
slow growth for almost a decade, opening A strategic partnership with Verizon
25 stores in its first nine years. Today, Business, valued at $2.1 billion, positioned
Damani operates more than 200 DMart- HCL as a key collaborator in global
branded stores in 45 Indian cities. managed network services. The company
collaborated with Amazon Web Services
10 Uday Kotak, 66, Banker (AWS) to drive the adoption of generative
In a post on social Artificial Intelligence (GenAI).
media, Uday Kotak In 2023, HCLTech entered India’s Top 10
shared his 2023 ‘year- most valuable companies following a 4%
end musings’: “India stock rise in September. And in December,
is transforming from it joined an elite group of companies with a
a nation of savers to market-cap of Rs 4 trillion.
investors. The Indian savers’ interest in the HCL Technologies, which employs
markets improved after the global financial 211,000 people in 52 countries worldwide,
crisis. That saver is now savouring the hires high school grads and trains them on
joys of investing. Mutual fund platforms, the job.
cash equities and derivatives markets, Kiran Nadar is one of the most influential
insurance funds, global private equity in names in the art world, and not just that
India, other platforms like AIFs, lower she is undoubtedly the biggest art buyer in
tax regime for equity, have all converted a this part of the world.
saver to an investor,” he said. The Nadars are well known for their
The ace banker also gave a lowdown on investments in the field of education and
how to sustain the growth story. He said in 2023, the Nadar family were India’s top
that India must avoid bubbles through philanthropists with donations of over Rs
policy, regulation, education and supply of 2000 crore.
quality paper.
In a year where benchmark stock indices 12 Harsh Mariwala, 68, Businessman
Sensex and Nifty hit record highs, Kotak “Success requires not
remains buoyant, and ten steps ahead of just leveraging your
his counterparts. strengths but also taking
risks, overcoming
11 Kiran & Shiv Nadar, 73 & 78, Art challenges, learning
Dealer, Philanthropist, Industrialist from failure, evolving
Indian IT pioneer Shiv Nadar co- your vision, and sometimes reinventing
founded HCL in a garage in 1976 to make yourself. That’s true for both organizations
calculators and microprocessors with five and individuals,” says Harsh Mariwala
friends. Constant innovation in thinking and
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