Forbes Global ranks ONGC 3rd largest in India
Leading international business journal Forbes has published its much awaited Global 2000 list of the world's biggest public companies for 2016. It has ranked ONGC, 3rd largest in India and 220 worldwide. Forbes ranks the world's most powerful and large companies on the basis of their revenue, profits, assets and market value.
Notwithstanding the hit from low crude oil prices, ONGC has been able to maintain its position among the top three Indian companies in terms of its financial parameters. There are 56 Indian companies in the global list. Due to the low revenue from its main product, ONGC has slipped in its global ranking slightly this year, from 183 last year.
The other Indian companies on the list are, Reliance (121) , SBI (149), ICICI Bank (266), HDFC Bank (275), Indian Oil (371), Tata Consultancy Services (385), NTPC (400), Bharti Airtel (453), Axis Bank (484), Infosys (590), Bharat Petroleum (650), Wipro (755, Tata Steel (1178) and Adani Enterprises (1993). Also making to the list are Coal India (465), Larsen and Toubro (505), ITC (781), Kotak Mahindra Bank (899), Mahindra and Mahindra (901) and HCL Technologies (943).
The 2016 Forbes Global list features public companies from 63 countries that together account for $35 trillion in revenue, $2.4 trillion in profit, $162 trillion of assets, and have a combined market value of $44 trillion. Overall, 586 US companies make the list, to 249 for China (mainland and Hong Kong), 219 for Japan, 92 from the United Kingdom and 67 from South Korea. A comprehensive analysis of each of the metrics is used to arrive at the scores to enable a company to find place among 2000.