China Curbs Help Make Indian Industrial Firms World Beaters
- Eight of top 15 industrial firms worldwide are based in India
- Graphite electrode maker HEG’s shares surged 1,457% last year
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Indian companies are dominating the ranks of the world’s best-performing industrial firms as they benefit from neighboring China’s pollution crackdown and billions in domestic infrastructure spending.
Of the 15 best-performing stocks over five years, eight are from Asia’s No. 3 economy and range from graphite electrode makers to equipment providers. Companies such as HEG Ltd., Graphite India Ltd. and Finolex Cables Ltd. have benefited from China’s pollution control measures as well as India’s pledge to electrify even the remotest village, said Gopal Agrawal, portfolio manager at Tata Asset Management Ltd., which oversees $3 billion in equity funds.