NEW DELHI: Despite the turmoil in the global economic environment, six Indian firms including Reliance Com and Bharti Airtel have been named among the top 100 best performing infotech companies in the world by an American magazine Business Week.
BusinessWeek’s latest annual list ‘The Infotech 100’, which ranks firms on the basis of shareholder return, return on equity, total revenue and revenue growth, has ranked telecom major Bharti Airtel at 21st position, followed by Reddington. India (55th) and RCom (66th).
The list has been topped by US firms — Amazon.com and Apple — which have taken the top two spots this year. However, the magazine said in an accompanying report that “the dominance of US companies has declined, with 33 companies in the IT 100 in the country this year, down from 43 in 2007.”
Other Indian firms in the list include Azim Premji-led Wipro at 74th, Satyam at 91st and HCL Technologies at 95th in the list of 100 firms.
South African telecom company MTN Group, which is in exclusive talks with Anil Ambani Group flagship firm Reliance Communications, has been ranked 12th in the global list. list, respectively.
Apart from this, China, another fast-growing country, also has six companies in the world’s top 100 infotech companies.
The magazine compiled information for the list based on the financial results of 30,500 publicly traded companies and ranked technology players on four criteria – shareholder return, return on equity, total revenue and revenue growth.
The leading companies on the list are the companies with the lowest overall rankings.
Qualified companies had to have at least $300 million in revenue, then the collection of approximately 800 companies was divided into eight industry categories, such as software and semiconductors.
“Companies whose share price has fallen more than 75 percent, whose sales have shrunk, or where other developments have raised questions about future performance are removed from dispute.
“We also excluded some phone companies whose monopoly or near-monopoly power gives them an unfair advantage over competitors,” the magazine said.