The Hindu Business Line : Seven Indian cos crack S&P list

These seven Indian companies are amongst the 300 mid-size companies in the world which are expected to emerge as challengers to the world's leading blue chip companies.

Standard & Poor's, a leading index provider, on Monday released the global challengers list, which identified these 300 companies from all across the globe as showing the highest growth characteristics, along with dimensions encompassing intrinsic and extrinsic growth.

"These companies, including the seven Indian companies, are expected to challenge the world's leading blue chip companies," according to the report.

Standards

An S&P press release said the Global Challengers List is based upon a robust methodology that applies consistent standards to multiple countries. The attributes used to identify the companies are share price appreciation, sales growth, earnings growth and employee growth. The 2006 class of S&P Global Challengers has representation from 32 countries and 10 sectors, according to the release.

Any company seeking inclusion in the list had to first meet the size criteria in terms of total market capatilisation, apart from satisfying some extrinsic factors such as sales growth and intrinsic factors such as EPS and employee count growth. "The quintessential quest for growth by corporate executives, consultants, marketers and investors needs a robust, globally consistent leader board," says Mr Srikant Dash, Index Strategist at S&P, adding that the S&P Global Challengers fulfils this need.

S&P also announced the launch of the S&P Global Challengers 40 index, a "highly liquid and investable subset" of the broader S&P Global Challengers List. The index, which is an equal-weighted portfolio of the 40 fastest growing stocks with representation from around the world, will serve as an important, liquid and geographically diverse, benchmark for global investors.

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