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| Tata Steel, ONGC most admired cos in APAC: Fortune |
| Press Trust of India / New York Mar 04, 2010, 21:31 IST |
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Two Indian companies -- steel maker Tata Steel and oil major ONGC -- have been named among the 50 most admired companies in the Asia-Pacific (APAC) region, according to US magazine Fortune.
The American magazine has named Apple as the world's most admired company for the third year in a row. The technology major is followed by internet giant Google at the second spot.
Among the most admired firms in the Asia-Pacific region, Tata Steel has cornered the 21st position while Oil and Natural Gas Corporation (ONGC) is ranked 47th.
The list of 50 admired companies in the region is topped by Japanese auto maker Toyota Motor, followed by South Korea's Samsung Electronics. Japanese electronics giant Sony is ranked third.
"For the 50 most admired companies overall, respondents in the region were asked to vote for the companies that they admired most, from any industry," the magazine said.
The rankings are based on many factors, including innovation, people management, use of corporate assets, financial soundness, long-term investment and global competitiveness.
Meanwhile, other companies named in the Asia-Pacific list are Posco (8), Huawei Technologies (10), Hyundai Motor (11), Acer (38), Hitachi (38) and Fujitsu (47).
In the list of the world's top 50 most admired companies, India-origin Indra Nooyi-led Pepsico is placed at the 25th spot.
Globally, billionaire Warren Buffett-led Berkshire Hathaway has cornered the third position.
Toyota Motor (7), Goldman Sachs Group (8), Wal-Mart Stores (9), Coca-Cola (10), Microsoft (11) and General Electric (16), Walt Disney (19), Exxon Mobil (28), Intel (31) and Nokia (41), also feature in the top 50 list of world's most admired firms.
Writing about Apple, the magazine said the company is "keeping its most admired crown for the third year in a row."
"With 250 million iPods, 43 million iPhones, and 32 million iPod touches sold to date, plus the promise of a game-changing iPad, Apple won this year's vote by the highest margin ever for a No. 1.
"Two more years as champ and Apple will match GE for most appearances in the top spot," the publication added.
According to the magazine, cost cutting is high on the list of priorities for PepsiCo, which has seen stagnant sales in recent years.
"The company also made headlines when it skipped running Super Bowl commercials last month, instead opting for social media advertising," Fortune noted.
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