Tata's emerge as the new face of trust in survey

New Delhi, Jul 27: The Tata group has emerged as the most trusted corporate group in a new survey conducted by Equitymaster. The group was voted for their transparency in financial reporting and trust worthiness marking them ahead of the Reliance Group managed by both Anil Ambani and Mukesh Ambani.

A whopping 61 percent participants voted for the Tatas, while software giant Infosys came in the second place, but could garner only 17 percent votes. The Reliance Group, led by Mukesh Ambani and Anil Ambani was ranked in the 6th and 8th positions respectively.

The other entries were the HDFC group that stood in the third place, while L&T and TVS groups bagged the 4th and 5th positions.

The survey included a total of 2,671 persons and was conducted by Equitymaster Agora Research, an independent equity research firm which also runs one of the country's oldest stock market website EquityMaster.com. The Equitymaster press release stated that the objective behind the survey was to ascertain "which corporate entity does the Indian investor trust the most in these days of scams and scandals."

The release added, "Surprisingly, despite the 2G scam, the popularity of the Tatas seemed unaffected. However, the same could not be said for Infosys whose popularity seems to have taken a hit. It makes one wonder if one can attribute it to the change in its leadership (K V Kamath replacing Narayana Murthy as the Chairman). "

The survey also revealed an interesting fact when some respondents chose a 'None of the above' option indicating "the utter distrust that is present in the minds of the investors today." Giving an insight into the investors mindset, the release further stated, "In the days before the financial meltdown, returns from stocks were probably the only criterion for investing. However, all that has changed due to global financial crisis and the recent spate of scams. Sound financial reporting and trustworthy managements are now just as important."

Here is the complete list of the top corporate houses ranked by Equitymaster -

1. Tata Group
2. Infosys
3. HDFC group
4. L&T
5. TVS Group
6. Mukesh Ambani-led RIL group
7. Aditya Birla group
8. Anil Ambani group
9. ICICI Bank
10. Bharti Airtel

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