Analysts say the number companies with a market cap of $1billion and above have increased with an uptrend in the broader market, where the benchmark Sensex has gained around 21% so far in 2012
New Delhi, Oct 28 (PTI) 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 $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% 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 Rs53 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 space, 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, J&K Bank and Karur Vysya Bank also command market capitalisation of one billion dollar and above.
Others to have entered the club include IPCA Labs, Torrent Pharma, Bata, Unitech, Pipavav Defence and GMDC and Eicher Motors.
The club is led by giants like Reliance Industries, TCS, ONGC, ITC, Coal India, HDFC Bank and SBI.