S and P Shariah Islamic Index & Indian Companies:
- The Islamic Investment and Banking markets, whether in Europe or in Middle Eastern countries, is one of the fastest growing areas in Financial Services.
- It is a very attractive niche market which needs a tailored approach and customised documentation and products.
- Recently eleven Indian companies have made it to Standard AND Poor’s new Islamic index covering stocks drawn from Asian country indices in its S and P Citigroup Global Index Series.
- These are:
- Tata Consultancy Services
- Infosys Technologies
- Wipro Corporation
- Bharat Heavy Electricals (BHEL)
- Oil and Natural Gas Corp.
- Bharti Televentures
- Hindustan UniLever
- National Thermal Power Corp.
- Reliance Industries
- Reliance Communication &
- Satyam Corp.
- Considering more than 300 Bn $ is lying in islamic countries without the option of appropriate investment options which are shariah complient it is not possible to find investment from there.
- Thus Entry of Indian companies in S and P shariah index is a important news for investors in these stocks.
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