India-centric firms` m-cap soars on AIM

The market capitalisation of 23 India-focused firms listed on AIM stood at $6.64 billion as on May 31, an increase of 4.89 per cent over the previous month.

According to data compiled by global consultancy firm Grant Thornton, the average rise in market capitalisation of these stocks from their respective dates of admission till May 31, 2008 touched over 60 per cent.

"The average increase in market capitalisation of these stocks from their respective dates of admission to the end of May 2008 has been 66 per cent, compared to 52 per cent to the end of April 2008, indicating that India-focused stocks on AIM have exhibited positive growth in the month of May, even in the wake of volatile markets globally," Grant Thornton said.

Out of the total 23 India-focused companies, Mortice and OPG Power Ventur Plc were admitted to AIM in May 2008. OPG raised about 65 million pounds last month.

In terms of percentage gains in market capitalisation, Great Eastern Energy Corporation topped the list with an increase of 853 per cent over market capitalisation at admission. This amounted to a Compounded Annual Growth Rate (CAGR) of 150 per cent.

Great Eastern Energy was followed by KSK Power Venture Plc, with a gain of 493 per cent, and Eros International Plc (90 per cent) in terms of their respective market caps at admission. KSK Power Venture and Eros International had a CAGR of 208 per cent and 40 per cent respectively.

However, Indian Film Company saw a sharp fall in market capitalisation, trading 28.49 per cent lower than its admission market capitalisation.