Indian cos listed on US bourses gain $ 70 bn in 2009 - Hindustan Times
close_game
close_game

Indian cos listed on US bourses gain $ 70 bn in 2009

PTI | By, New York
Jan 03, 2010 11:53 AM IST

Indian companies listed on the American bourses notched up handsome gains in 2009 as their aggregate valuation scaled upward by $ 70 billion with stock markets worldwide rallying substantially in the year.

Indian companies listed on the American bourses notched up handsome gains in 2009 as their aggregate valuation scaled upward by $ 70 billion with stock markets worldwide rallying substantially in the year.

HT Image
HT Image

The market capitalisations of all the US-listed companies grew up to three-fold. IT major Wipro witnessed nearly a two-fold increase in its valuation.

Hindustan Times - your fastest source for breaking news! Read now.

However, only three entities -- IT firm Mahindra Satyam, earlier known as Satyam Computer Services, and telecom firms MTNL and Tata Communications-- saw a fall in their market capitalisations by a combined $ 2.68 billion.

The valuations of IT firms -- Infosys Technologies, Wipro and Patni Computers -- increased almost three-fold.

Mirroring the gains in the IT stocks, technology heavyweight Nasdaq gained 48 per cent in 2009.

While Wipro's valuation jumped $ 21 billion to $ 33 billion, the biggest gainer among the Indian firms listed as American Depository Receipts (ADRs) was Infosys whose market capitalisation rose by $ 18 billion to $ 31 billion.

During the entire year, the Wall Street gained an average of 25 per cent. The Dow Jones Industrial Average with 22.46 per cent and crossed the 10,000-points mark, while S&P 500 rose 28 per cent to over 1,100-level.

The exception to the broader market gain was Mahindra Satyam whose valuation declined by over $ two billion during the year to $ 3.1 billion.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On