Companies trying to reach up level in Indian corporate world
The annual listing of ET 500 reflects the ever evolving picture of the Indian corporate world, with companies striving to inch up the ranking ladder. The pecking order at the top of the ET500 ranking remained almost unchanged with the top four petroleum majors reigning supreme. While Reliance Industries retained its apex position as the biggest private sector Indian company, State Bank of India remained the biggest service sector company in India at the sixth position, with Bharti Airtel and TCS following close behind at 11th and 13th spots, respectively.
The third biggest gainer was the state-owned MTNL, which climbed 158 notches to make a surprise entry into the top 100, as the government’s decision to take over its pension liabilities landed it with over Rs 10,216 crore one-time gain. Other companies to jump more than 100 ranks were Jindal Poly, Ruchi Infrastructure, Rolta India, Forbes & Company and KPR Mills.
On the flip side, a similar number of companies ended up losing more than 100 places in the listing. Beleaguered Southern Petrochemicals and Opto Circuits reported the maximum drop in rankings, while Essar Shipping, HCL Infosystems, Ramky Infra, Era Infra, S Kumar’s Nationwide and Shree Ganesh Jewellery were the other losers -some of them due to our revised methodology to identify trading companies.
Source: The Economic Times
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