The combined market value of all the billion-dollar firms stands at $791 billion, representing a gain of $150 billion since the start of this year, an increase of $300 bn in the past one year.
As many as 20 companies have joined the elite billion-dollar market cap club so far in 2007, with appreciating rupee emerging as a major driving force behind this feat. While a number of corporates, particularly those with significant exposure to exports, are crying foul over dollar’s decline, the prevailing forex trend has added considerably to their market value when calculated in the US currency.
The combined market value of all the bn-dollar firms stands at $791 billion, representing a gain of $150 billion since the start of this year, an increase of $300 bn in the past one year. India Inc boasts of a total of 146 publicly traded companies with market capitalisation of over $one billion up from 126 at the end of 2006.
One year ago, there were 98 companies in this club, which is now up by 48 companies, while taking the combined market value of all the listed companies in the country to little below $one trillion. However, the credit for this increasing number of bn dollar companies does not go entirely to the rise in the share prices.
