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Indian firms slip on the planet rankings; 4 steps out of High-500

LONDON: The inventory market upheaval has taken its toll on India’s world firm rankings, together with 14 on a brand new checklist of the world’s 500 most valued firms. Collectively, they noticed roughly $150 billion of abrasion of their market worth within the first three months of this 12 months.

Whereas 13 of the 14 within the newest checklist have taken a dip of their rankings, 4 firms — Mukesh Ambani-led Reliance Petroleum, state-run Indian Oil Corp (IOC), actual property wholesaler Unitech and residential mortgage large HDFC — have totally dropped out of the competitors.

The newest FT World 500 checklist, printed this weekend by the British enterprise every day Monetary Instances, is predicated on the businesses’ market capitalization as of March 31, 2008. The earlier rating was based mostly on figures on the finish of December 2007.

Reliance Industries, the flagship firm of India’s largest company home Mukesh Ambani group, tops eightieth within the newest checklist, with US vitality large ExxonMobil topping the checklist.

Apart from the main Tobacco-to-Shopper Items ITC, which ranks 484th, all different Indian firms have seen their rankings drop from the earlier checklist.

Collectively, the market worth of those 14 firms has fallen by about $150 billion since December final 12 months and now stands at about $440 billion.

There have been 17 Indian firms within the earlier checklist and had a complete market capitalization of about $590 billion.

Within the nationwide rating based mostly on the full market capitalization of all their firms listed, India ranks fifteenth. The US tops the checklist with 169 firms with a complete worth of $9.6 trillion, adopted by the UK, China, France and Japan.

Different international locations forward of India embody Germany, Canada, Switzerland, Russia, Spain, Brazil, Hong Kong, Italy, and Australia.

When it comes to the variety of firms on the checklist, India and Russia collectively rank ninth after the US (169), UK (35), Japan (39), France (31), China (25), Canada ( 24). ) and Germany (22).

Of the Indian firms, RIL is adopted by two state-owned firms ONGC and NTPC in 148th and 206th place respectively.

Whereas RIL has dropped 15 positions from its sixty fifth rank within the earlier checklist, ONGC and NTPC have additionally beforehand fallen from their one hundred and fifteenth and 163rd ranks.

Different Indian firms embody Sunil Mittal-led telecom large Bharti Airtel in 218th (towards 193), main brokerage DLF in 329th (towards 195) and Anil Ambani-led Reliance Comm in 350th (reverse of 193). 252).

Nonetheless, ITC climbed six spots to 484th whilst its market cap fell from $20.8 billion beforehand to $19.38 billion.

Realty main DLF noticed the strongest market worth drop at $40.66 billion, adopted by ICICI Financial institution, the nation’s largest personal lender with a $38.51 billion plunge and Metal Authority of India ($35.46 billion).

RIL, the nation’s most extremely valued firm, noticed its market capitalization fall by about $21 billion, from about $105 billion to $82 billion within the newest checklist.

On the worldwide checklist, ExxonMobil has changed China’s PetroChina on the high, whereas US industrial conglomerate GE has maintained its third place. Different firms within the high 10 embody Gazprom, China Cellular, Industrial and Industrial Financial institution of China, Microsoft, AT&T, Royal Dutch Shell and P&G.

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