One of the hallmarks of Brand India is its creative acumen. This knack for innovation has landed five Indian companies on the Forbes’ list of world’s 100 most innovative companies list.
This list includes Hindustan Unilever (HUL) at rank 14, Tata Consultancy Services (TCS) at 57, Larsen and Turbo at 58, Sun Pharmaceuticals at 65 and Bajaj Auto at 96.
The list consists of those companies that investors think are likely to “generate big, new growth ideas.” The list was topped by California based Salesforce, followed by another American company, Alexion Pharmaceutical.
The Forbes list ranks only those companies with at least $ 10 billion in market capitalisation, spend a minimum of 2.5 percent revenue on R&D and have seven years of public data.
The list ranks the companies in accordance to their innovative Premium: a measure of that compares the net present value, based on current cash flows, with its current Enterprise Value (EV) based on expectation of future innovative results.
Companies with high EV above the base value have a high innovation premium built into their stock price.
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