Sunday, June 29, 2008

13 Indian cos among world's 500 most valued firms

Thirteen Indian firms, led by Reliance Industries, have made to the list of world's 500 most valued companies compiled by the UK business daily Financial Times, even as 12 of them fell down from their previous rankings amid weak stock market trends.

Excluding tobacco-to-consumer goods major ITC, all the 12 Indian companies present on the list, including RIL, ONGC, NTPC, SBI, Bharti Airtel, DLF and Reliance Communications, saw their rankings drop in the latest FT Global 500 list, topped by American energy giant ExxonMobil with a market value of 452.5 billion dollars.

FT publishes the list based on the market capitalisation of the companies at the end of every quarter and the latest rankings are based on March-end figures for this year. The previous list was based on market cap figures at the end of December 2007.

In the global list, ExxonMobil has replaced China's PetroChia as the most valued firm, while US industrial conglomerate GE has retained its third position. Other firms in the top 10 include Gazprom, China Mobile, Industrial and Commercial Bank of China, Microsoft, AT&T, Royal Dutch Shell and P&G.

Among the Indian companies, Mukesh Ambani-led RIL has been ranked the highest at 80th, down 15 places from 65th earlier, with a market cap of 82 billion dollars.

RIL is followed by state-run ONGC at 148th (down from 115), public sector power major NTPC at 206th (down from 163), Sunil Mittal-led telecom giant Bharti Airtel at 218th (down from 193), realty major DLF at 329th (down from 195) and Anil Ambani-led Reliance Communications at 350th position (down from 252). However, ITC climbed six spots to the 484th place, with a market value of 19.38 billion dollars.