Analyis of how narrow based market capitalization is in Indian IT and Telecom markets. This has implications for VC/PE investing (http://kamadoll.tumblr.com)

1. India: Telecom - Concentration of market value
25,000.0
Operators Passive
Infra
Active Infra and Softw are
20,000.0
Market cap USD MM
15,000.0
10,000.0
5,000.0
OnMobile, $280M
-
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Rank in Top 30 Telecom Cos
Source: Shyam Kamadolli (Fidelity India Capital Partners), IndiaNomics, data as of April 26, 2009

2. India: IT - Concentration of market value
IT Svcs
18000
Infosys
16000
14000
Market cap USD MM
12000 TCS
10000 Wipro
8000
6000
4000
Educomp $900M
2000
0
1 2 3 4 5 6 7 8 91011121314 1617 1920
15 18 2122 2425 2728 3031
23 26 29 3233 3536 3839
34 37 4041 4344 4647
42 45 4849 51
50
Rank in Top 50 IT Cos
Source: Shyam Kamadolli (Fidelity India Capital Partners), IndiaNomics, data as of April 26, 2009