Visualizing India’s Top Companies by Market Capitalization
India’s stock market valuation hit $4 trillion in 2023 for the first time ever, bringing the world’s fifth-biggest equity market closer to Hong Kong, which is worth around $4.7 trillion.
This graphic, utilizing data from CompaniesMarketCap, showcases India’s top 50 publicly traded companies by market capitalization.
India’s Biggest Companies Worth Over $2 Trillion
Altogether, the 50 biggest companies in India are worth over $2.1 trillion, or ₹180 trillion in Indian Rupees.
At the top is the multinational conglomerate Reliance Industries. The company operates in diverse sectors, including energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Additionally, it holds the rank of the 100th largest company worldwide.
Reliance’s Chairman and Managing Director, Mukesh Ambani, is India’s richest person with a net worth of $95.6 billion. The company was founded by his late father Dhirubhai Ambani, a yarn trader, in 1966 as a small textile manufacturer.
| Company | Industry | Market Cap (USD) |
|---|---|---|
| Reliance Industries | Conglomerate | $198 billion |
| HDFC Bank | Banking | $159 billion |
| Tata Consultancy Services | Information Technology | $155 billion |
| ICICI Bank | Banking | $85.4 billion |
| Bharti Airtel | Information Technology | $72.5 billion |
| Hindustan Unilever | Consumer Staples | $72.3 billion |
| Infosys | Information Technology | $72.3 billion |
| ITC | Conglomerate | $67.6 billion |
| State Bank of India | Banking | $65.2 billion |
| Housing Development Finance Corp | Banking | $60.7 billion |
| Larsen & Toubro | Conglomerate | $54.7 billion |
| Bajaj Finance | Financial Services & Real Estate | $54.5 billion |
| Life Insurance Corporation of India | Financial Services & Real Estate | $54.2 billion |
| Kotak Mahindra Bank | Banking | $43.6 billion |
| HCL Technologies | Information Technology | $42.8 billion |
| Axis Bank | Banking | $41.9 billion |
| Adani Enterprises | Conglomerate | $40.5 billion |
| Maruti Suzuki India | Automotive | $40.5 billion |
| Titan Company | Consumer Discretionary | $37.9 billion |
| Asian Paints | Consumer Discretionary | $37.1 billion |
| Sun Pharmaceutical | Other | $35.7 billion |
| NTPC Limited | Energy & Mining | $33.2 billion |
| Bajaj Finserv | Financial Services & Real Estate | $32.3 billion |
| UltraTech Cement | Industrial | $32.3 billion |
| DMart | Consumer Staples | $31.6 billion |
| Tata Motors | Automotive | $31.2 billion |
| Oil & Natural Gas (ONGC) | Energy & Mining | $30.5 billion |
| Nestlé India | Consumer Staples | $28.5 billion |
| Coal India | Energy & Mining | $26.3 billion |
| Adani Ports & SEZ | Other | $26.3 billion |
| Adani Green Energy | Energy & Mining | $25.6 billion |
| Wipro | Information Technology | $25.4 billion |
| Mahindra & Mahindra | Automotive | $25.2 billion |
| Adani Power | Energy & Mining | $24.9 billion |
| Powergrid Corporation of India | Energy & Mining | $24.8 billion |
| JSW Steel | Industrial | $24 billion |
| Bajaj Auto | Automotive | $20.9 billion |
| Hindustan Aeronautics | Other | $20.5 billion |
| Indian Oil | Energy & Mining | $20 billion |
| Tata Steel | Industrial | $19.6 billion |
| LTIMindtree | Information Technology | $19.5 billion |
| DLF | Financial Services & Real Estate | $19.3 billion |
| SBI Life Insurance | Financial Services & Real Estate | $17.6 billion |
| HDFC Life | Financial Services & Real Estate | $17.4 billion |
| Varun Beverages | Consumer Staples | $16.6 billion |
| Hindustan Zinc | Energy & Mining | $16.5 billion |
| Siemens India | Conglomerate | $16.4 billion |
| Grasim Industries | Conglomerate | $16.4 billion |
| Pidilite | Industrial | $15.7 billion |
| Power Finance Corp | Financial Services & Real Estate | $14.9 billion |
In second place is India’s largest private sector bank by assets and the world’s fifth-largest bank by market capitalization, HDFC Bank. The institution employs over 177,000 people.
Furthermore, in third place is IT company Tata Consultancy Services, which provides services in cloud, cognitive business operations, consulting, and cybersecurity in 55 countries, including the U.S., Canada, China, Australia, Germany, and the United Kingdom.
In total, IT comprises six of India’s 50 biggest companies. The list also includes 16 financial and banking groups and spans other sectors such as mining and energy, automotive, and consumer staples.
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