The 30 titans in Dow Jones' India index
August 14, 2008
Dow Jones has announced a new blue-chip index for India to track stocks that they feel are the largest and most liquid stocks traded in the country. It will be licensed, says News Corp boss Rupert Murdoch (News Corp now owns Dow Jones), to financial institutions as the basis for investment products, such as exchange-traded funds.
The index will be calculated both in terms of the dollar and the Indian rupee and will be reviewed every March.
The India Titans Index, as it has been christened, will track 30 companies. Topping the list -- and this should not come as a surprise to anyone -- is one of India's richest companies, Reliance Industries Limited.
According to the company website, one of every four investors in India is a Reliance shareholder. The company, which has more than 3 million share holders, has reported and annual turnover of $35.9 billion and a profit of $4.85 billion for the year ending March 2008.
Reliance's core competency is the oil business, but it has successfully diversified into many businesses including petroleum products, petrochemicals, textiles, plastics and the retail industry.
Reliance has been listed in Fortune's Global 500 list for the fourth year in a row; it has improved its ranking from 269 last year to 206 this year.
The company, which was launched by Dhirubai Ambani in 1966 and is now led by Chairman and CEO Mukesh Ambani, was also listed among the Top 200 companies in terms of profit and among the top 50 companies when it came to increase in revenue. It has been ranked among the 25 fastest climbers by Fortune and as one of the world's 25 most innovative companies by Business Week.
For full article:Dow's 30 titans
SOurce: Rediff