LONDON: The upheaval in stock market has taken a toll on the global rankings of Indian companies, with 14 of them present in a new list of world's 500 most valued firms together seeing an erosion of about $150 billion in their market value in the first three months of this year.

While 13 of the 14 present in the latest list have taken a dip in their rankings, four companies -- Mukesh Ambani-led Reliance Petroleum, state-run Indian Oil Corp (IOC), realty major Unitech and housing loan giant HDFC -- have completely moved out of the league.

The latest FT Global 500 list was published by the UK business daily Financial Times over this weekend, is based on the companies' market capitalisation as on March 31, 2008. The previous rankings were based on December 2007-end figures.

Reliance Industries, flagship company of India's biggest corporate house Mukesh Ambani group, is top ranked 80th in the latest list, topped by the US energy giant ExxonMobil.

Except for tobacco-to-consumer goods major ITC, ranked 484th, all other Indian companies have seen their rankings decline from the previous list.

Together, the market value of these 14 firms has dropped by about $ 150 billion since December last year and currently stands at about $ 440 billion.

There were 17 Indian companies in the previous list and had a total market capitalisation of about $ 590 billion.

In the country-wise ranking based on total market cap of all their companies present in the list, India has been placed 15th. The US is at the top with 169 companies worth a total $ 9.6 trillion, followed by UK, China, France and Japan.

Other countries ranked ahead of India include Germany, Canada, Switzerland, Russia, Spain, Brazil, Hong Kong, Italy and Australia.

In terms of the number of companies present in the list, India and Russia are jointly ranked ninth after the US (169), the UK (35), Japan (39), France (31), China (25), Canada (24) and Germany (22).

Among the Indian firms, RIL is followed by two state-run firms ONGC and NTPC at 148th and 206th positions respectively.

While RIL has slipped 15 positions from its 65th rank in the previous list, ONGC and NTPC have also moved down from their 115th and 163rd ranks previously.

Other Indian firms include Sunil Mittal-led telecom giant Bharti Airtel at 218th (down from 193), realty major DLF at 329th (down from 195) and Anil Ambani-led Reliance Comm at 350th position (down from 252).

However, ITC climbed six spots to the 484th place, even as its market cap fell to $ 19.38 billion from $ 20.8 billion previously.

Realty major DLF saw the steepest market value fall of $ 40.66 billion, followed by the country's biggest private sector lender ICICI Bank with a plunge of $ 38.51 billion and Steel Authority of India ($ 35.46 billion).

RIL, the country's most valued firm, saw its market cap falling by about $ 21 billion, dipping from about $ 105 billion to $ 82 billion in the latest list.