Reliance Beats TCS, HDFC Bank To Become India’s Most Valuable Company
Reliance Industries is now the most valuable company in India on the 2022 Burgundy Private Hurun India 500 list.
The valuation of the industry stands at Rs 17.2 lakh crore, which is a hike of 3.6 percent as compared to last year.
Reliance Industries Limited Emerges Most Valuable Company In India
According to the 2022 Burgundy Private Hurun India 500 list, Mukesh Ambani-led Reliance Industries Ltd (RIL) is the most valuable company among the 500 most valuable companies in India.
RIL emerged as the leader, outperforming the competition on key metrics such as valuation, revenue, and profitability. Reliance Industries’ market capitalization was Rs 17.2 lakh crore, up 3.6 percent from the previous year.
Despite a 10.8 percent drop in valuation to Rs 11.6 lakh crore, TCS ranked second on the Hurun India 500 list.
According to the report, HDFC Bank was ranked third on the list (with a valuation of Rs 8.3 lakh crore). Another IT services behemoth, Infosys, came in fourth place with a market capitalization of Rs 6.4 lakh crore.
ICICI Bank, a private sector lender, was ranked fifth on this list of the most valuable companies, with a market capitalization of Rs 6.3 lakh crore.
Airtel, HDFC, ITC, Adani Enterprises Among Top Ten in Hurun’s List
Bharti Airtel (valued at Rs 4.8 lakh crore), HDFC (valued at Rs 4.4 lakh crore), ITC (valued at Rs 4.3 lakh crore), Adani Total Gas (valued at Rs 3.9 lakh crore), and Adani Enterprises rounded out the top ten (valued at Rs 3.8 lakh crore).
As per the report, “The total value of the top 10 companies remained flat at INR 72.0 lakh crore (US$872bn), equivalent to 37% of India’s GDP and 31% of the total value of the 2022 Burgundy Private Hurun India 500.”
In the last decade, the total value of the top ten most valuable Indian enterprises has increased by 262 percent.
Serum Institute of India was the most valuable unlisted company, valued at Rs 2.1 lakh crore, followed by BYJU’s (valued at Rs 1.8 lakh crore) and the National Stock Exchange of India (valued at Rs 1.3 lakh crore).
To be included on the list, the companies must have a minimum value of INR 6,000 crore, or USD 725 million.
The companies on this list are from 36 cities in India, with Mumbai (159), Bengaluru (63) and New Delhi leading the way. More than half of the ‘2022 Burgundy Private Hurun India 500’ list was contributed by the three cities.