51 firms inducted into the Indian Billion dollar club
By siliconindia   |   Tuesday, 09 June 2009, 16:01 IST   |    2 Comments
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51 firms inducted into the Indian Billion dollar club
Bangalore: Thanks to the upward movement of the markets and appreciation in the value of rupee, there is good news in the Indian business environment. The increased confidence level has resulted in the addition of 51 companies into the league of billion-dollar market-value firms. Currently, there are as many as 144 companies in this elite league, a number that had gone to 93 in October when the markets hit the lowest levels. The combined market value of these companies has doubled since October when it was $410 billion, the current value stands at $900 billion as on June 5. Though, the present numbers may spread some optimism in the markets, it doesn't reflect the market sentiment seen during January last year. The Indian stock market benchmark Sensex had touched an all-time high of 21,206 points in January 2008. During that time, the total number of companies in the billion-dollar list was 226, with a total value of a whopping $1,579 billion. These numbers show that though the league seems to have increased its membership, more confidence is required to touch the peak of last year.

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