Home        News & Events       ZSL Ranked 434 in India's most valuable Companies

ZSL Ranked 434 in India's most valuable Companies

Business Today in the current month edition has listed 500 most valuable companies in India and ZSL has been ranked 434. There were totally 46 new entrants to this list current year and ZSL is one among them.

Chances are, this is the first comprehensive update on the Indian market you'll be reading since the world started talking in a different tongue after that fateful morning of September 11, 2001. A reason why BT decided to take another parameter-average market capitalisation of the top 500 companies between the period April 1-September 15, 2001.

In all other aspects, there's no change in the way BT created this database, except that BT dropped equity capital from the list and brought in one more parameter, the average market capitalisation for 1999-2000. Since BT strive for value all the time-like our toppers whom you'd see in the list-BT decided to rank the companies on the two aforementioned parameters too. That means three sets of ranking on three platforms of time. Giving you an idea of yesterday, today, and a little bit of tomorrow.

Once again, it was the Mumbai-based Centre for Monitoring Indian Economy (CMIE) to whom BT entrusted the arduous task of crunching megabytes of data. CMIE began with a universe of 4,894 companies selected on the basis of their average market capitalisation on the BSE

In terms of exclusions, companies owned by the state-state-owned public sector companies, banks, and financial institutions (FI)-were omitted from the sample unless the government's equity stake in them had fallen to at most 50 per cent last year. Instead, they were analysed in a separate study, The Most Valuable PSUs. Eventually, our master sample constituted the 1,350 companies that traded for at least seven days between April 1, 2000, and March 31, 2001.

Methodology

Ever since the year before last, the BT-500 listing has been drawn up based on each company's market value all through the financial year-and not just on March 31. To compute that, each company's market capitalisation was calculated on each trading day between April 1, 2000, and March 31, 2001. Those values were aggregated and divided by the number of days on which the scrip actually traded. This yielded the company's average market value for the year.

Companies that were thinly traded had to be eliminated. Since the BSE was open for trading on 251 days between April 1, 2000, and March 31, 2001, all those companies whose stocks traded for fewer than a minimum of 20 per cent of the total number of trading days-or 51 days-were excluded from the study. To facilitate comparison, the accounting period was standardised as the financial year ended March 31, 2001. In the case of companies whose accounting years ended on any other dates-say, December 31-the figures for the latest financial year for which results were declared were used. Sales and profit figures are annualised.