Top India Stocks

Many investors consider India to be the most secure of the three Asian BRIC countries, safer than Russia or China [Brazil is the fourth BRIC country]. Fortunately, there are plenty of India stocks that trade in the United States; WallStreetNewsNetwork.com turned up a list of over 15 stocks of India companies that trade here, several of which pay dividends.

Some interesting facts about India:
1. It has the third largest economy in the world measured by purchasing power parity.
2. It has the tenth largest economy in the world in US dollar exchange-rate terms.
3. It is is the second fastest growing major economy in the world [9.4% GDP growth rate].
4. Services make up over 60% of their GDP.
5. The inflation rate is 5.3%.
6. It has the fourth-largest reserves in the world of coal.
7. It has the world's largest reserves of thorium, a slightly radioactive metal which has been considered an alternative nuclear fuel to uranium.
8. Its oil reserves provide 25% of the country's demand.
9. It ranks second worldwide in farm output.
10. It ranks fourteenth worldwide in factory output.
11. Its IT industry accounts for only about 1% of the total GDP.
12. In 2005, India liberalised its foreign direct investments policy to allow up to a 100% foreign investment stake in India based ventures.

Here are some Indian stocks worth looking into.

ICICI Bank Ltd. (IBN) is an India based bank holding company which provides commercial banking, investment banking, and insurance services. The stock has a P/E of 22.9 a forward PE of 15.1, and a yield of 1.2%.

Patni Computer Systems Ltd. (PTI) is in the business of information technology consulting and software development. The stock has a P/E of 9.7, a forward PE of 13.1, and a small yield of 0.5%. The PEG is 0.77.

I love the name of this stock, Dr. Reddy's Laboratories Ltd. (RDY), which is a pharmaceutical company that researches, develops and markets drugs for the treatment of cancer, cardiovascular disorders, bacterial infection, and metabolic disorders. The stock trades at 18 times forward earnings and has a PEG of 1.01. It does not pay dividends.

To see the list of the rest of the top India stocks that trade in the US, go to WallStreetNewsNetwork.com.

Author does not own any of the above.

By Fred Fuld at Stockerblog.com