Fifty-six Indian companies in Forbes ‘Global 2000’ list

The list of the biggest and most powerful listed companies worldwide has been topped by US banking giant JPMorgan Chase and is followed by General Electric, Bank of America and ExxonMobil

A total of 56 Indian companies, including Reliance Industries and State Bank of India, have been named among the world’s 2,000 most powerful listed companies, according to US magazine Forbes.

The ‘Global 2000’ list of the biggest and most powerful companies worldwide has been topped by US banking giant JPMorgan Chase and is followed by General Electric, Bank of America and ExxonMobil, reports PTI.

Among Indian high performers, Reliance Industries leads the pack and has been ranked at the 126th place in the global list.

Other Indian companies named in the list include State Bank of India (130), ONGC (155), ICICI Bank (282), Indian Oil (313), NTPC (341), Tata Steel (345), Bharti Airtel (471), Steel Authority of India (502), Larsen & Toubro (548) and HDFC Bank (632).

The global rankings span 62 countries, with the US (515 members) and Japan (210 members) dominating the list as usual, although the number of companies from developing nations in the list is fast increasing.

This year, the countries that gained the most ground are mainland China (113 members), India (56 members) and Canada (62 members), the magazine said.

The Forbes ranking of the world’s biggest companies used an equal weightage of sales, profits, assets and market value to rank companies according to size and this year's list reveals the dynamism of global business.

“In total, the ‘Global 2000’ companies now account for $30 trillion in revenues, $1.4 trillion in profits, $124 trillion in assets and $31 trillion in market value. All metrics are down from last year, except for market value, which rose 61%,” Forbes said.

Two companies from the Anil Ambani Group, Reliance Communications (742) and Reliance Infrastructure (1,702), have also made it to the list.

Other Indian companies named on the list include State-owned Punjab National Bank (695), Tata Consultancy Services (741), HDFC (783), Infosys (807), DLF (923) and Hero Honda Motors (1,571).
 

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7 years ago

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Gold strengthens on buying support

Marginal rise in global prices also helped to boost prices

Gold prices rose further by Rs45 to trade at Rs16,925 per 10gm on the bullion market here today on sustained buying amid a firming global trend, reports PTI.

Standard gold and ornaments extended gains for the second straight day and added another Rs45 each to Rs16,925 and Rs16,775 per 10gm, respectively. They had gained Rs135 in the previous session.

Sovereign followed suit and gained Rs25 to Rs14,050 per 8gm piece.

The trading sentiment remained firm after gold in overseas markets, which normally set the price trend on the domestic front, rose by 0.1% to $1,148.35 an ounce in Singapore.

In line with the general trend, silver ready strengthened further by Rs210 to Rs27,910 per kg and weekly-based delivery by Rs180 to Rs27,510 per kg.

However, silver coins remained around previous levels of Rs33,600 for buying and Rs33,700 for selling of 100 pieces.
 

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New business for life insurance industry grew 25% in FY2010

According to industry sources, the 23 life insurers mopped up a first year premium of Rs1.09 lakh crore in 2009-10 compared to Rs87,108 crore in the previous year

Led by State-owned Life Insurance Corporation of India (LIC), new business for the life insurance industry recorded a growth of 25% during 2009-10, overcoming the decline witnessed a year ago on account of the global financial meltdown, reports PTI.

According to industry sources, the 23 life insurers mopped up a first year premium of Rs1.09 lakh crore in 2009-10 compared to Rs87,108 crore in the previous year. In 2008-09, the insurers registered de-growth of 6%.

In 2009-10, LIC collected a premium of Rs70,891 crore compared to Rs52,954 crore in 2008-09, thereby growing by around 34% during the year. The market share of LIC has also increased to 65% in 2009-10 compared to around 61% in the previous year.

The other 22 private insurers mopped up a first year premium of Rs38,399 crore in FY2010, compared to Rs34,154 crore during the previous year, translating into a growth of over 12%.

Among private life insurers, SBI Life emerged as the biggest player. The insurer collected
Rs7,041 crore as first year premium in the last fiscal compared to Rs5,386 crore in 2008-09, thereby growing by over 30%.

However, ICICI Prudential, which was at the top position in 2008-09, registered a 7% de-growth during 2009-10.

It managed to mop up Rs6,334 crore premium in the last fiscal as against Rs6,813 crore in 2008-09.

Among other big players, Reliance Life collected Rs3,921 crore as first year premium in 2009-10, compared to Rs3,541 crore in the previous year, thereby growing by over 10%.
Bajaj Allianz collected Rs4,451 crore during 2009-10 compared to Rs4,492 crore in 2008-09, registering a de-growth of around 1% during the year.

HDFC Standard Life grew by 23% during 2009-10 in terms of new business. The insurer collected Rs3,261 crore in the last fiscal compared to Rs2,644 crore in 2008-09.

In terms of policies sold during 2009-10, ADAG Group company Reliance Life Insurance emerged as the leader among the 22 private sector life insurers.

During the year, the company sold about 23.2 lakh policies against 22.1 lakh in the previous year.

Reliance is closely followed by Bajaj Allianz Life Insurance, which sold 22.3 lakh policies in the same period.

Other players like ICICI Prudential Life sold as many as 17.6 lakh policies, while the insurance venture promoted by SBI roped in 13.5 lakh new customers during the year.

The private sector, comprising 22 players, collectively sold 1.4 crore policies in FY210, lower than the figure of 1.5 crore in the previous fiscal.

However, the largest player in the life insurance segment, State-owned LIC, sold 3.8 crore policies compared to 3.5 crore policies in 2008-09.

As a result, the total number of new policies sold by the 23 life insurance companies together covered an additional 5.3 crore lives in 2009-10, compared to about 5.1 crore in the previous year.
 

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