New Delhi, July 05: The current buoyancy in the Indian stock market ensured higher returns for Indian investors in Indo-German companies, the Indo-German Chamber of Commerce has said. The chamber’s ‘IGCC 15 Index’ has recorded an impressive 59.17 per cent growth in July ’02. This rise in this index becomes all the more important considering that in the same period the Sensex rose by 10.94 and the Nifty by 7.44 per cent respectively, a statement said. "The increase shows Indo-German companies have integrated well in the Indian market and have become important players in their area of operations," IGCC Deputy Director General Ajay Singha said.

The chamber has devised an index of Indo-German companies wherein the German shareholding is a minimum of 25 per cent and it has been tracking the index since July 2002. It is basically a market capitalisation index, it added.
The index consists of 15-listed Indo-German companies out of a total of 24 listed companies and considers only those companies with German shareholding of more than 25 per cent. It includes companies like ABB India, Aventis Pharma, BASF India, Bayer ABS, Bayer India, Merck, FAG Bearing India, Goetze (India), Henkel SPIC India, Insilco, Krone Communications, MICO, Siemens, Thomas Cook and KSB Pumps. The index took January 01, 2002 as the base date with value 100.
The considered companies are not only backed by strong German technologies, but have also emerged leaner and fitter by cutting costs and improving productivity. In the wake of highly competitive regime, these companies have emerged as success stories and have developed enough fire power to be future star performers as well, IGCC said. Bureau Report