For the third consecutive year, Reliance Industries, led by Mukesh Ambani, maintains its position as the top-ranking company on India’s list of most valuable corporations, boasting a staggering valuation of Rs 20 lakh crore. The recently released 2023 Burgundy Private Hurun India 500 list, covering data from October 2022 to October 2023, highlights the country’s most valuable companies, with a minimum valuation threshold of Rs 6,700 crore for inclusion.
HDFC Bank, propelled by its merger with HDFC Ltd, secured the third spot, surpassing the Rs 10 lakh crore market capitalization milestone. Meanwhile, the Serum Institute of India leads the unlisted companies, followed by the National Stock Exchange of India and Megha Engineering and Infrastructure.
Suzlon Energy emerges as the fastest-growing firm with an impressive 436% annual growth, followed by Jindal Stainless and JSW Infrastructure. The Adani Group faced a significant setback, losing over Rs 9 lakh crore due to the Hindenburg controversy. However, following a positive Supreme Court decision, the conglomerate recovered over Rs 4 lakh crore last month.
The collective market value of the 2023 Burgundy Private Hurun India 500 companies exceeds Rs 231 lakh crore, surpassing the combined GDP of Saudi Arabia, Switzerland, and Singapore, as reported by the Hurun study.
Here are the top 20 companies in India by market value:
Reliance Industries –
Valued at over Rs 20 lakh crore, headquartered in Mumbai, and employing nearly four lakh individuals across its offices.
Tata Consultancy Services (TCS) –
With a valuation of over Rs 12 lakh crore, TCS is a multinational IT services and consulting company with a global presence and more than six lakh employees.
HDFC Bank –
Surpassing Rs 10 lakh crore in market capitalization, HDFC Bank is valued at over Rs 11 lakh crore following its merger with HDFC Ltd.
ICICI Bank –
The fourth-most valuable company in India, ICICI Bank, with a market cap exceeding Rs 6 lakh crore, operates through nearly 6,000 branches and 16,000 ATMs across the country.
Infosys –
With a market value exceeding Rs 5.7 lakh crore, Infosys is one of India’s largest multinational corporations, serving clients globally across various industries.
Bharti Airtel –
Valued at over Rs 5.5 lakh crore, Bharti Airtel is a telecommunications company providing services in over 18 countries.
ITC –
ITC holds the seventh position with a market cap of over Rs 5.3 lakh crore, boasting diverse business interests including FMCG and hotels.
Larsen & Toubro (L&T) –
Known for its infrastructure projects, L&T has a market value exceeding Rs 4 lakh crore.
HCL Technologies –
Returning to the top 10 with a valuation of Rs 3.4 lakh crore, HCL Technologies is a multinational IT services and consulting company.
Kotak Mahindra Bank –
Rounding off the top 10, Kotak Mahindra Bank has a market cap of Rs 3.4 lakh crore, operating as one of India’s leading private sector banks.
Axis Bank –
With a valuation surpassing Rs 3 lakh crore, Axis Bank, established in 1993, operates across India, serving millions of customers.
Asian Paints –
India’s largest paint company, Asian Paints, holds a market value exceeding Rs 2.8 lakh crore, with manufacturing operations spanning 15 countries.
Titan Company –
Operating in various sectors, including watches, jewellery, and accessories, Titan Company is valued at over Rs 2.7 lakh crore.
Sun Pharmaceuticals Company –
Among the largest pharmaceutical companies in India, Sun Pharma has a market value exceeding Rs 2.6 lakh crore, with headquarters in Mumbai.
Adani Enterprises –
Part of the Adani Group conglomerate, Adani Enterprises is one of the largest integrated infrastructure companies in India, with a market value exceeding Rs 2.6 lakh crore.
Bajaj Finserv –
A non-banking financial services company, Bajaj Finserv, part of the Bajaj Group, has a market value of over Rs 2.4 lakh crore.
Avenue Supermarts –
Commonly known as D-Mart, Avenue Supermarts boasts a market cap exceeding Rs 2.3 lakh crore, operating a chain of supermarkets across India.
Tata Motors –
A multinational automotive company, Tata Motors holds the 18th position with a market value exceeding Rs 2.8 lakh crore.
Wipro –
With a market cap exceeding Rs 1.99 lakh crore, Wipro, a multinational corporation headquartered in Bengaluru, has over 2.62 lakh employees. Serum Institute of India – Leading the list of the most valuable unlisted companies with a valuation of over Rs 1.92 lakh crore, the Serum Institute of India is recognized as the world’s largest manufacturer of vaccines and is a part of the Cyrus Poonawalla Group.
