London: Eleven Indian companies led by Oil and Natural Gas Company (ONGC) and Reliance have found a place in the top 200 Emerging Market Companies in a list published by a leading business weekly.

ONGC leads the Indian companies occupying the 13th position in the list and Reliance Industries ranks 31st in the list compiled by the latest issue of 'Business Week'.

ONGC with a market value of $ 14.5 billion has improved its ranking from 25th in 2002 to 13th in 2003. Reliance, with a market value of $ 8.9 billion has improved its ranking from 53rd in 2002 to 31st in 2003.

The Emerging Markets list ranks companies by market value as on May 30, 2003, translated into US Dollars at May month end exchange rates.

China Mobile with a market value of $ 44.9 billion leads the list, and is followed by Samsung Electronics (market value of $ 44.2 billion) and PetroChina at third place (market value of $ 43.5 billion).

Besides ONGC and Reliance, other Indian companies featuring in the list include Hindustan Lever (37), Indian Oil (52), Wipro (78), State Bank of India (79), Infosys (85), ITC (89), Ranbaxy (134), HPCL (169) and HDFC (195).

The other Indian companies, apart from ONGC and Reliance, which improved their ranks this year as compared to last year are: Indian Oil (from 101 to 52), State Bank of India (from 141 to 79), ITC (from 105 to 89), Ranbaxy (from 186 to 134), HPCL (from 189 to 169) and HDFC (entered at 195 this year).

Taiwan with 27 companies leads the list with maximum number of entries from a single country.

PTI