10 Indian companies in Forbes Asia’s Fabulous 50
September 4, 2008 – 7:29 pmTen Indian companies led by the likes of state-run BHEL, Bharti Airtel and Reliance Industries have made their way into the Forbes’ list of 50 best listed companies in the APAP region.
The ‘Asian Fabulous 50′ ranking is topped by Taiwan-based computer maker Acer. While Chinese steel maker Angang Steel ranked second. Among countries, China grabbed numero uno spot with 13 firms, while India ranked second with its 10 companies. After Olympics this is a good reason to cheer as India ranked second. BHEL and Bharti Airtel are the top ranked companies from India with the overall fifth and sixth spots.
Among Indian firms, Bharti Airtel is followed by HDFC Bank (22), IT bellwether Infosys (25), conglomerate ITC (27), engineering firm Larsen & Toubro (30), Mahindra & Mahindra (34), Reliance Industries (39), world’s sixth largest steel maker Tata Steel (44) and Wipro (46).
Accompanying the report the magazine said, “Indian companies once again had a strong showing, with 10 making cut. Infosys and Wipro, perpetual top performers, are back for the fourth year. Reliance Industries, BHEL and L & T are back for the third year.” The report also shows that consumer-oriented companies such as Airtel, HDFC, M & M and ITC are growing with India’s middle class.
Long-term profitability, sales & profit growth, stock price appreciation and projected earnings along with revenues or market capitalization of at least five billion dollars were used as yard sticks for preparing this list.