India watch issue 5 - Indian stocks gather pace despite economic slowdown
Monday, July 13, 2009 | Posted by: Grant Summers
Categories:
| Tags: India,
LSE,
South Asia Group,
India Price Index,
AIM,
Capital Markets,
Fiona Owen,
KSK,
Cross border,
India Hospitality Corp
Grant Thornton’s latest India Watch index reveals Indian companies listed on the London Stock Exchange (LSE) are collectively outperforming the FTSE 100 and continue to outperform AIM 100, AIM all-share and AIM 50 markets.
The India Index has risen 76 per cent since the start of the year and 72 per cent in the last quarter*. This compares with a decline of 4 per cent for the FTSE 100 since the start of the year and a slight rise of 7 per cent since the beginning of April. The AIM 100 has risen 34 per cent since the start of the year and 28 per cent since the beginning of April.
We are using India Watch, launched in conjunction with the London Stock Exchange, to monitor the UK/India business relationship through both cross border M&A between India and the UK and the performance of Indian firms listed on the LSE, with a tracker that focuses on the performance of the Main Market and AIM versus listed Indian firms since 1 January 2007.
Particularly strong performers include companies listed on AIM including India Hospitality Corp, KSK Power Ventur Plc, OPG Power Venture Plc and Naya Bharat Property Co Plc.
India is now the second-largest source of foreign direct investment into the UK up from seventh last year. Indian investments into the UK climbed 44 per cent to 108. At the same time the UK has become the biggest foreign investor into India.**
Performance of Indian companies on the London Stock Exchange since 1 January 2007* **
Performance of Indian companies on the London Stock Exchange since 1 January 2009 to 30 June 2009.***
*** The India Watch index consists of 29 Indian companies listed on AIM or the Main Market (excluding GDRs). We only consider companies to be Indian if they are domiciled in India and/or foreign companies holding Indian assets or Investment companies with Indian promoters. The index has been created via Datastream, a Thomson Reuters product and is weighted by Market Value.
Top performing companies over the last quarter
Top performing companies YTD
Top performing companies over the last 12 months
Sector Analysis
*Data sourced from Thomson Reuters.
**UK Trade and Investment
*** The India Watch index consists of 29 Indian companies listed on AIM or the Main Market (excluding GDRs). We only consider companies to be Indian if they are domiciled in India and/or foreign companies holding Indian assets or Investment companies with Indian promoters. The index has been created via Datastream, a Thomson Reuters product and is weighted by Market Value.
by Fiona Owen
Partner and Head of South Asia Group Capital Markets
For Grant Thornton UK LLP
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