Millennium Post

Billion $ club gets 22 new companies

The coveted league of the companies with billion-dollar market valuation has seen 22 new additions so far in 2012, including the companies from banking, pharma, finance and consumption-oriented sectors.

At the end of 2012, there were a total of 150 companies with a market capitalisation USD 1 billion or above, but their numbers have now risen to 172, as per an analysis of stock market data on market values of listed firms.

Analysts say the numbers of such companies have increased with an uptrend in the broader market, where the benchmark Sensex has gained around 21 per cent so far in 2012.

Interestingly, there is little impact of the rupee-dollar exchange rate in the increase in the number of billion-dollar market valuation companies. The exchange rate is nearly unchanged near Rs 53 against one US dollar at 2011-end.

The new entrants to this club include Emami, Jubilant Foodworks, Havells and Syndicate bank, among others.

In the finance spa, Bajaj Finance, Max India and Indiabulls Financial Services have also made their way into the elite list.

In banking space, ING Vysya Bank, Standard Chartered (Indian Depository Receipts), IOB, Andhra Bank, Corporation Bank, also command market capitalisation of one billion dollar.
PTI

PTI

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