Sensex Closes 82 Points Up,8 Indian Companies In Forbes Top Global Firm List
04 Apr
Posted by Shyam as IntraDay Calls, Market News
Well amid very high volatility the sensex closed the day gaining 82 points at 15,832 points and NSE closed 17 points up at 4771 points. But this was against the trend in Asian markets which gained 1.5% each in Nikkei-225 and Hang Seng. The major gainers today were IT stocks like TCS,WIPRO and Satyam.
The US markets are also marginally up and losing steam fast after the Job data came which hit the 2 years high mark with many job cuts and a statement from Federal Reserve Chairman Ben Bernanke regarding the recession in US economy.
Some of the stocks which you can get at this levels include : IT pack of TCS,Satyam, WIPRO,Infy, Cairn India, Essar Oil, Welspun Gujurat, Tulsi ExtrusionLtd, Essar shipping,GMR Industries etc.
It was also a great day for Indian Companies with 8 Indian companies making it to the Forbes top global firm list. The list has been decided on the basis of sale, profit, market cap and assets. The list has been topped by HSBC followed by GE,BOA, JPMorgan Chase, ExxonMobil. The Mukesh Ambani group company RIL is at 193rd position and ONGC at 198th position.
Others in the list include SBI(219th), Indian Oil( 303rd), ICICI(374th), NTPC (411th), SAIL(647th), TATA Steel (748th), Bharti(826th), RCom(846th), TCS(927th),HDFC(949th), L&T(961st), BPCL(967th) etc. Now 4 Indians are on the top ten list of wealthiest persons in the world which include Lakshmi Mittal( Mittal Steel), Mukesh Ambani(RIL), Anil Ambani(ADAG Group) & KP Singh(DLF). So its really a proud moment for India and Indian companies.
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3 Responses
sumeet
April 4th, 2008 at 7:50 pm
1surprisingly enough , the indian companies are far behind the stronghold companies of smaller coutries like korea and brazil which are toddlers if compared by their age with that of tatas and the reliance which are influencing the indian market through decades …..what is to be noticed is that those smaller companies had listed their openings at nasdaq and nikkei….. and their pattern of doin international business through active partnerships and joint ventures and also mergers than take overs …slowly these companies spread like parasites into the local market and ultimately play the winning game …..so the pattern doesnot needs any chaos theory to be explained if u ottu conquer forbes listing conquer local markets with international products not like the miserably failing tata indica in the local european martkets……adios to hyundai and samsung …..sumeet sitting at home amidst soft rains
Shyam
April 4th, 2008 at 8:16 pm
2Yes it may look surprising, but infact we have improved our figures and presence in the Forbes list as compared to the previous years. I still feel that Indian companies are yet to come of age and match the aggression with which the western companies are doing business. For example a company like Google which started in 1998, today boasts of $200 billion dollar in market cap,but Indian companies like Reliance are in the market for close to 30 years now but still far away from those magical figures.
In the last 2-3 years we are seeing a certain shift in the way we are doing business with TATAs going out for those big ticket acquisition and all.Lets hope we move from here and see a couple of companies atleast in the top 100 Forbes list in the coming year!
Nice climate here to enjoy man!
James Kryten
April 21st, 2008 at 8:56 am
3Hello! I am thoroughly impressed with your knowledge of Mittal Steel. Your insights into this article about Mittal Steel was well worth the the time to read it. I thank you for posting such awsome information. Signed James Kryten on this Day Sunday.
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