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Reliance, Wipro make it to Forbes A-list public cos
Tuesday, September 14 2004 10:31 Hrs (IST)

New York: Eight Indian companies, including Reliance Industries, Bharti Tele ventures and software giants Infosys and Wipro have made it to the Forbes A-List featuring 400 most attractive public companies for investors.

The others figuring in the magazine's list are Bharat Petroleum and Oil and Natural Gas Corporation (ONGC) in the energy sector while State Bank of India gets the honour in the banking sector and ITC in consumer goods.

These companies, Forbes said, "Offer sustainability and prospect for growth investment."

Three of the selected Indian companies have achieved a sales turnover in the region of $12 billion-- SBI ($12.1 billion) Bharat Petroleum ($12 billion) and Reliance ($11.8 billion).

ONGC leads the table with $21.3 billion followed by Reliance ($14.4 billion) and Infosys ($8.6 billion) in terms of market capitalisation.

Three big Indian companies--Indian Oil, Hindustan Petroleum and Hindustan Lever-- which featured last year have failed to find a place this time. This is the sixth time that the Forbes has compiled the list and it says that the companies in the A-list have performed better than some related indexes.

"So, we will boldly suggest that these 400 firms representing less than one per cent of world's publicly listed companies as prime candidates for a growth-oriented equities portfolio," the magazine said.

The top ten companies identified in the list are BP, ExxonMobil, Total, Allianz, ConocoPhillips, Carrefour, Siemens, AIG, Nestle and Mckesson.

Out of the 400 Companies making the list, 141 are US-based with Japan in second place but far behind at 30.

Twenty German firms and 19 French companies make the grade. Canada has 16 companies on the coveted list.

PTI










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