Reliance Industries Limited, led by Mukesh Ambani, has once again been declared as India’s most valuable company, with a market capitalization of ₹15.64 trillion. This ranking was revealed in the latest edition of the annual Burgundy Private and Hurun India 500 report, which covers data from October 2022 to October 2023.
The report also highlighted that Tata Consultancy Services (TCS) and HDFC Bank secured the second and third positions with market values of ₹12.36 trillion and ₹11.25 trillion, respectively. Additionally, the top five also included ICICI Bank and Infosys, with market capitalizations of ₹6.47 trillion and ₹5.71 trillion.
The Burgundy Private and Hurun India 500 report aims to compile the 500 most valuable private firms in India. These companies collectively hold a value of ₹231 trillion and employ around 1.3% of the national workforce. The top 10 companies alone hold a combined value of ₹73.3 trillion, equivalent to 28% of India’s GDP.
It was also noted that Suzlon Energy experienced a remarkable 436% yearly growth, making it the fastest-growing firm on the list. Moreover, the report highlighted that Serum Institute of India (SII) was named the most valuable unlisted company, and 437 out of the 500 firms included in the list have women representation on their boards.
Interestingly, the report revealed that HDFC, which ranked seventh last year, missed out this time due to its merger with HDFC Bank. Additionally, Adani Total Gas and Adani Enterprises dropped out of the top 10, making way for L&T, HCL, and Kotak Mahindra.
The annual Burgundy Private and Hurun India 500 report provides valuable insights into the top companies in India and their market performance, reflecting the overall economic landscape of the country.