Firms gain $57-bn valuation on American bourses

The American stock market seems to be returning rich dividends to Indian companies, as the valuation of US-listed entities from India has grown by a staggering $57 billion since the beginning of 2012. In the process, the 15 Indian companies listed on the US bourses (NYSE and Nasdaq) have recouped nearly half of the total loss of about $20 billion witnessed during 2011. While Sify and Rediff.Com have seen an erosion in their market valuations, each of the remaining 13 companies have seen their value soar on the US bourses. A few like ICICI Bank and Tata Motors have recorded significant jump in their market valuations.