On the other side Chinese currency Yuan is trading near to 7 compare to 1 dollar. USDCHY made low of 6.26 in the month of March 2018. From there Chinese currency is depreciating against dollar made a low of 7.17 in September 2019. Today it’s trading near to 6.99.
It’s very important for China to perform at the same pace near to 6% per annum and it’s not at all feasible. This is the time to look at the performances of the countries instead companies. As Chinese Index is at 107 week’s high, Indian prime index NSE: Nifty is at 3 months high. But there are many stocks listed at Indian stock exchanges NSE / BSE at either their life time high or at least 52 weeks high. It’s not one or two stock but a very long list. Few companies are presented here.
Most of the Pharma stocks are the part of the list. MNCs like Britannia and Nestle also gained in a big way. Telecom companies Reliance Jio, Bharti Airtel, Vodaphone Idea are also the major gainers due to the lockdown.
Reliance Industry tops the list. Market Cap of the company is above 12 Lack Cr. Today It’s the company with highest network / market cap in Asia. Mukesh Ambani, Chairman of Reliance Industry is at top of the list with net worth of $70.1 billion. Jack Ma is at second position with net worth of near to 48.5 billion USD. Jack Ma is the promoter founder of Alibaba a Chinese company into e-commerce business.
Mukesh Ambani is ranked 8th richest man of the world. Stock market darling Warren Buffett is at 9th position. Congratulations! Dear Mr. Mukesh Ambani.
