Indian companies slipping in global rankings; Four have gone from the top-500
Of the 14 on the latest list, 13 have dropped in their rankings, with four companies – Mukesh Ambani-led Reliance Petroleum, state-run Indian Oil Corporation (IOC), realty major Unitech and housing loan giant HDFC – all out of the league.
The latest FT Global 500 listing was published this weekend by the UK business daily Financial Times, based on the company’s market capitalization as of March 31, 2008. The previous ranking was based on statistics as of late December 2007.
Reliance Industries, India’s largest corporate house Mukesh Ambani Group’s flagship company, ranks 80th in the latest list, followed by US power giant ExxonMobil.
With the exception of ITC, the leading tobacco-to-consumer product, ranked 484th, all other Indian companies have dropped their rankings from the previous list.
Together, the market value of these 14 companies has fallen by about $ 150 billion since December last year and now stands at about $ 440 billion.
The previous list had 17 Indian companies and their total market capitalization was about $ 590 billion.
India ranks 15th in the country-wise ranking based on the total market cap of all their companies listed. The United States tops the list with 169 companies valued at 9.6 trillion, followed by the United Kingdom, China, France and Japan.
Other countries ahead of India include Germany, Canada, Switzerland, Russia, Spain, Brazil, Hong Kong, Italy and Australia.
In terms of the number of companies on the list, India and Russia jointly rank ninth after the United States (169), United Kingdom (35), Japan (39), France (31), China (25) and Canada (24). ) And Germany (22).
Among Indian companies, ONGC and NTPC are ranked 148th and 206th, respectively, after RIL.
While RIL has slipped 15 places from its 65th position in the previous list, ONGC and NTPCO have slipped from their 115th and 163rd positions, respectively.
Other Indian airlines include Sunil Mittal-led telecom giant Bharti Airtel 218th (below 193), Realty major DLF 329th (below 195) and Anil Ambani-led Reliance less than 350th (below 252).
However, ITC rose six spots to 484th position, even dropping its market cap from $ 20.8 billion to $ 19.38 billion.
Real major DLF saw the biggest market fall of $ 40.66 billion, followed by ICICI Bank, the country’s largest private sector lender, at $ 38.51 billion and Steel Authority of India ($ 35.46 billion).
RIL, the most valuable company in the country, saw its market cap fall by about $ 21 billion, down from about $ 105 billion to $ 82 billion on the latest list.
At the top of the global list, ExxonMobil replaces China’s PetroChina, with US industry body GE holding their third position. Other top 10 companies include Gazprom, China Mobile, Industrial and Commercial Bank of China, Microsoft, AT&T, Royal Dutch Shell and P&G.
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