11 Indian companies including TCS and Bharti Airtel, up from seven last year, figures in Forbes 2012 list of 50 best publicly traded companies in Asia-Pacific.
According to media reports, the US magazine’s 2012 list sees the big Indian IT software services and consulting firms, HCL and Tata Consultancy, while an Indian drug company, Sun Pharmaceutical, breaks into the elite ranks for the first time.
The Indian companies in the list with their ranks were: Tata Consultancy Services (4), ITC (5), HDFC Bank (6), Bharti Airtel (9), Tata Motors (16), Sun Pharmaceutical Industries (18), Bajaj Auto (27), Kotak Mahindra Bank (29), HCL Technologies (33), Titan Industries (37) and Asian Paints (41).
A slowing economy weeded out the merely good companies from the truly great ones, Forbes said noting 15 companies are new this year. Another ten returned after falling off in past years. Several leading names that claimed a spot year after year-such as Australia’s We farmers, India’s Mahindra & Mahindra and Taiwan’s HTC failed to repeat this time.
Once again China dominates the list with 23 mainland entries, the same as a year ago.