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12 Indian firms among forbes' 50 best Cos in Asia-Pacific

Kashmir Times. Dated: 9/3/2014 3:25:29 PM

NEW YORK, Sep 2 (Agencies): Tata Consultancy Services (TCS), HCL Technologies and HDFC Bank are among the 50 best public companies in Asia-Pacific according to a compilation by Forbes, which ranked India second behind China as home to the "world's next growth engines".
The Forbes 2014 'honour roll of the Fabulous 50' lists best of Asia-Pacific’s biggest publicly traded companies.
China has 16 companies on the list, more than any other country, a distinction it has enjoyed for the last three years. However, the number of Chinese companies on the list has gone down from 20 last year on the back of slow economic growth in the country.
India trails China with 12 companies on the list, the same number as last year.
The Indian companies on the list are Asian Paints, Axis Bank, HCL Technologies, HDFC Bank, Lupin, Mahindra and Mahindra, Mothersome Sumi Systems, Sun Pharma, TCS, Tata Motors, Tech Mahindra and Titan.
HDFC Bank, India's second-largest private sector bank, has made the list eight times, more than any other company since Forbes started the compilation in 2005.
TCS makes it to the list for the seventh time while Tech Mahindra, the country's fifth-largest IT player, debuts on the list after net profits soared 112 per cent to touch USD 500 million. Indian conglomerate ITC failed to make it to the list this year.
Forbes said TCS, India's largest IT company, boasts a market cap of USD 71.25 billion, bigger than the country's next 3 IT outfits combined.
"Long dependent on the US market, (TCS) may soon generate more than half its revenue outside the US," the publication said.