Seven Indian cos in S&P global challengers list
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Last Updated: Tuesday, September 19, 2006, 00:00
New Delhi, Sept 18: Giving another boost to the great Indian growth story, seven domestic firms have been named as the emerging global challengers to the world's leading blue chips by the global equity research major Standard and Poor's.

Bharat Forge, Siemens India, Chennai Petroleum, UTI Bank, Punjab National Bank, Nicholas Piramal and Oriental Bank of Commerce have made to the 2006 S&P global challengers list, which was published today.

The annual list includes 300 mid-size publicly traded companies spanning across 32 countries and 10 sectors that are slated to emerge as the biggest challengers to the world's leading corporates.

S&P said these companies have shown highest growth characteristics on dimensions encompassing intrinsic as well as extrinsic growth.

The list is based on various factors such as share price appreciation, sales growth, earnings growth and employee growth.

The Indian participation in this year's global challengers list include three banks -- namely UTI Bank, Punjab National Bank and Oriental Bank of Commerce. The list also includes auto components maker firm Bharat Forge, MNC capital goods firm Siemens India, Pharmaceutical Maker Nicholas Piramal and Chennai Petroleum from the energy sector.

Bharat Forge has been ranked at the 20th position in the Asia-Pacific region in terms of composite growth scores in each region, while Siemens is present at 34th, Chennai Petroleum at 47th and Nicholas Piramal at 113rd position.

The three banking companies, UTI Bank, PNB and OBC have been ranked at 74th, 96th and 124th positions respectively.

Standard and Poor's today also announced the launch of its S&P global challengers 40 index, which is an investable subset of the broader S&P global challengers list.

However, none of the Indian companies have been able to made it to this 40-share index, although there are as many as 20 companies from the Asia Pacific region. Besides, there are 13 US-based companies, two from Canada and five from Europe on the S&P global challengers 40 index.

In the 300-member global challengers list, 117 are from the Americas (US, Canada and Mexico), 52 from Europe and 124 from Asia-Pacific and seven from the mid-East/Africa region.

Bureau Report

First Published: Tuesday, September 19, 2006, 00:00

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