Diversified conglomerate ITC and cement manufacturing company Shree Cement have been identified as the two most valuable companies in West Bengal in terms of market capitalization, according to the Burgundy Private Hurun India List for 2021.
FMCG firm Britannia Industries, which has its registered office in Kolkata, in the third most valuable company in the state, according to the list.
Burgundy Private is the private banking arm of Axis Bank and Hurun, a leading research firm.
Twentytwo companies from West Bengal featured in the Burgundy Hurun India 500 list for 2021 with their total sales adding to Rs two lakh crore, equivalent to 15 per cent of the states GDP.
The average age of the companies is 62 years and together employ 2.3 lakh people, it added.