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Indian companies continue strong performance

Indian companies continue strong performance

Tuesday, January 06, 2009 | Posted by: Grant Thornton
Categories: | Tags: India, investment, India Watch, LSE, South Asia Group, aim, Fiona Owen, FTSE

Grant Thornton’s latest India Watch index reveals that Indian companies listed on the London Stock Exchange (LSE) have collectively outperformed both the FTSE 100 and FTSE ASEAN indices over the first quarter of 2009 and continue to outperform the FTSE AIM All-Share, the FTSE AIM 100 and the FTSE AIM UK 50 indices since 1 January 2007.

We are using the India Watch to monitor the UK/India business relationship through examining both cross border M&A trends between the nations and tracking the 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 2007*

* The India Watch index consists of 30 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.

The latest results reveal that, over the first quarter of 2009 , the India Watch index increased marginally by 0.67% whilst the FSTE100 and FTSE ASEAN fell 11.46% and 5.96% respectively. Since 1 January 2007, the India Watch Index, continued to outperformed the FTSE AIM 100 and the FTSE AIM All-Share indices, this time, by 18.5% and 18.9% respectively. The India Watch index also outperformed the FTSE AIM UK 50 by over 25%.

The strongest performers over the three months to March 2008 were Alpha Tiger Property Trust, OPG Power Ventures PLC and Unitech Corporate Parks PLC respectively.

Top performing companies over the last quarter