The Indian stock market may be growing at a faster pace than its American counterpart, but the US market has turned out to be better in valuation as well as returns for companies listed in both the countries.For the 11 Indian companies listed in both US and Indian equity markets, the market capitalisation gain on US bourses was more than one billion dollar higher than the same on the domestic bourses here over the past week.Besides, the total US market value of these companies is nearly $20 billion higher than their Indian valuation.There are a total of 16 Indian companies listed in the US, but only eleven of them are listed on the domestic bourses as well.Those listed on both the markets include four IT firms - Infosys, Wipro, Satyam Computer and Patni Computer - two banking giants ICICI Bank and HDFC Bank, two Tata group firms Tata Motors and VSNL, state-run MTNL, pharma major Dr Reddy's Labs and Anil Aggarwal-promoted Vedanta group's Sterlite Industries.The total market capitalisation of these 11 companies is about $135 billion in the US, against about $115 billion in India.According to an analysis of their share price movements in the two markets, their cumulative market capitalisation grew by $6.5 billion in US last week, against just $5.3 billion here.This is despite the Indian stock market's benchmark Sensex gaining a higher 3.1% in the week, against a 1.9% rise in the Dow Jones Industrial Average index, the barometer for the US market. Year-to-date also, the Sensex has gained 45%, compared to DJIA's 9.3% rise.
