Reliance Industries Ltd (RIL), an oil-to-telecom giant, has topped Hurun India’s list of the country’s 500 most valuable firms, which was announced on December 9 in collaboration with Axis Bank’s private banking company Burgundy Private.
The top ten companies are Infosys, ICICI Bank, Housing Development Finance Corporation, Bajaj Finance, Kotak Mahindra Bank, Bharti Airtel, and Wipro.
“India’s most valuable companies keep getting more valuable, with the total value of the 10 most valuable companies rising five times in the last decade,” Hurun India MD and Chief Researcher Anas Rahman Junaid said.
Hurun India MD and Chief Researcher Anas Rahman Junaid said.
“With a value of ?16.7-lakh crore, Reliance Industries is India’s most valuable company, followed by Tata Consultancy Services with ?13.1-lakh crore and HDFC Bank with ?9.1-lakh crore,”
The list said.
Findings of 2021 Burgundy Private Hurun India 500
The findings are part of the first edition of the Burgundy Private Hurun India 500 by Burgundy Private, Axis Bank’s private banking business, and Hurun India.
“These companies are ranked according to their value, defined as market capitalisation for listed companies and valuations for non-listed companies. The cut-off date to arrive at this list was October 30,”
Statement on Thursday, adding that the companies have to be headquartered in India.
“Surprisingly, there has been no slowdown in a year dominated by COVID-19. Both the BSE SENSEX and NIFTY 50 rose by more than 50 per cent YoY, whilst the S&P BSE 500 was up 69 per cent over the same period last year,”
The press release said.
India’s Start-Ups
Mensa Brands, Apna, CRED, BharatPe, Mobile Premier League, and Zetwerk make up about 11% of the 2021 Burgundy Private Hurun India 500, There are 53 unicorns and one gazelle among these start-ups.
“India’s start-ups are producing some significant companies,” it noted.
“The top line of these 500 companies is equivalent to 29 per cent of India’s GDP and they employ up to 1.5 per cent of the total workforce of the country. What is most heartening is that nearly 10 per cent of these companies are younger than 10 years, representing India’s vibrant tech ecosystem. We believe that India’s new economy companies will witness greater representation in this list in the times to come,”
Amitabh Chaudhry, Managing Director and CEO, Axis Bank.
“With a total value of $3 trillion, more than India’s current GDP, they make up the backbone of India’s economy. Together, these 500 companies had combined sales of $770 billion, and employed 6.9 million staff, which is more than the working population of United Arab Emirates,”
Anas Rahman Junaid, MD and Chief Researcher, Hurun India.
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