INDIA’S MARKET OUTPERFORMS CHINA

While investors hope that consumer spending growth in China will eventually balance its export dependence, in the short term it is India that presents more opportunity.

Economists crow over the long-term domestic growth prospects in both emerging Asian giants, which is likely to be led by a young generation of spenders eager to buy clothes, computers, cars and other goods.

Until recently, China’s massive government stimulus spending worth 6% of gross domestic product was the biggest draw in Asia for investors chasing growth. However, last month’s stunning election victory by India’s Congress-led coalition, which allowed the grouping to secure a parliamentary majority, has turned the heads of some fund managers to the consumer-oriented sectors in India.

In addition, India’s valuations are cheaper, suggesting more upside potential for any investments...

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INDIA'S BILLION DOLLAR CLUB ADDS 51 FIRMS; $500 BILLION

The rally in the stock market and the recent appreciation in rupee value has brought 51 new members to the elite billion-dollar market-value club, while doubling its overall valuation since October when the benchmark index had dropped below the 8,000-level.

The country boasts of as many as 144 companies with a market capitalisation of at least a billion dollar at present. The number represents a increase of 51 companies from just 93 in October 2008. Interestingly, the cumulative market value of the club currently stands at about 900 billion dollars (Rs 42,34,171.25 crore) as on June 5, more than double of its value in October last year of 410 billion dollars (about Rs 20,41,029.8 crore).

The Economic Times