India is an emerging economic powerhouse, hosting some of the most valuable corporations globally. These largest companies in India operate across diverse industries such as technology, finance, and consumer products, playing a crucial role in bolstering India’s economic expansion.
The achievements of India’s top companies are propelling the nation’s economy and various sectors, marked by impressive sales and profits that are substantially boosting their market valuations and international presence.
In this article, we will explore the 7 top companies in India based on market valuation, offering insights into their respective sectors and market capitalization.
Top Companies in India by Mcap
- Reliance Industries
- TATA Consultancy Services (TCS)
- HDFC Bank
- Bharti Airtel
- ICICI Bank
- Infosys
- State Bank of India (SBI)
Understanding Market Valuation
Market valuation is all about figuring out how much a company is worth based on its stock. You get this value by taking the current price of a single share and multiplying it by the total number of shares that are out there. This gives you a good idea of the company’s overall worth.
Market valuation helps measure how big and successful a company is. Investors pay close attention to this number when deciding where to put their money. If a company has a high market valuation, it usually means it’s doing well and making profits.
On the flip side, a low market valuation might suggest that the company is having a tough time or isn’t in a booming industry.
Largest Companies in India on the Basis of Market Cap
Here’s a list of the biggest companies in India based on market capitalization:
1. Reliance Industries
Chairman & MD: Mukesh D. Ambani
Founded: 1958
Reliance Industries is the top company in India when it comes to market cap. This conglomerate is involved in a bunch of sectors like energy, petrochemicals, textiles, natural resources, retail, and telecommunications.
Its impressive market valuation reflects its wide-ranging operations and solid presence in the market. On June 28, 2024, Reliance made history by becoming the first Indian company to surpass the Rs 21 lakh crore mark, thanks to its telecom arm, Reliance Jio Infocomm, rolling out new unlimited plan tariffs starting July 3, 2024.
Back in August 2019, Reliance had a $15 billion deal in the works with oil giant Saudi Aramco, where they sold a stake in their oil-to-chemicals division. Unfortunately, this deal hit a snag in 2021, largely due to the impacts of the Covid-19 pandemic.
On the bright side, Reliance’s Jio has attracted investments from major tech players like Google and Meta (previously Facebook). Plus, their joint venture with BP Plc, Reliance BP Mobility Ltd. (Jio-bp), has launched a premium diesel that could improve fuel economy by up to 4.3%.
Reliance Retail is also making waves by teaming up with international designers to introduce brands like Gap to Indian consumers.
2. TATA Consultancy Services (TCS)
MD and CEO: K. Krithivasan
Founded: 1968
TCS, part of the Tata Group, is a key player in the IT industry. They offer a wide range of IT services, consulting, and business solutions, making them the second-largest Indian company by market cap. Their impressive market valuation showcases their strong position in the tech world.
One of TCS’s significant collaborations is with the National Employment Savings Trust (NEST) in the UK, where they utilize TCS ValueBPS™ to assist clients in retirement planning and savings. They also work with Marks & Spencer to enhance their business operations and improve their SRD (space, scope, and display) capabilities.
Additionally, TCS is known for sponsoring numerous marathons worldwide, from Indian cities like Kolkata, Bengaluru, and Mumbai to major locations like New York City and London.
3. HDFC Bank
MD and CEO: Sashidhar Jagdishan
Founded: 1977
HDFC Bank stands out as the biggest private bank in India in terms of assets, offering a wide variety of financial products and services. It has a solid foothold in both retail and corporate banking sectors.
The bank’s market valuation showcases its strong financial health and the trust it has built with customers. This valuation highlights its extensive customer base and diverse service offerings.
On July 1, 2023, HDFC Bank merged with its parent company, HDFC Ltd., aiming to create more value for shareholders and clients as the Indian economy continues to thrive. Now, it ranks as the seventh-largest bank globally and holds the title of the largest bank in India by market capitalization and the third largest company in India.
4. Bharti Airtel
Current CEO: Gopal Vittal
Founded: 1995
Bharti Airtel is a major player in the telecom scene, operating in 18 countries throughout Asia and Africa. They provide a range of services including mobile voice and data, fixed lines, high-speed broadband, IPTV, DTH, and enterprise solutions. The company’s market value reflects its robust network and extensive customer reach.
Recently, they partnered with Alphabet, Google’s parent company, to test high-speed internet in rural India using innovative laser technology that utilizes light beams.
5. ICICI Bank
Managing Director and CEO: Sandeep Bakhshi
Founded: 1994
ICICI Bank stands out as one of the top private banks in India, catering to both corporate and retail clients with a wide range of banking products and financial services.
Customers can access these services through various channels, including specialized subsidiaries. The bank’s market value reflects its diverse offerings and focus on customer satisfaction.
In late 2022, the previous CEO, Chanda Kochhar, faced serious allegations of misusing her role and misappropriating bank funds for her benefit. Sandeep Bakhshi took over during a challenging period, but he quickly turned things around, restoring the bank’s reputation and achieving strong financial results.
6. Infosys
Current CEO: Salil Parekh
Year Established: 1981
Infosys is a big and well-known global powerhouse in digital services and consulting, assisting clients across 46 countries in their digital transformation journeys. Its market valuation showcases the company’s innovative solutions and extensive global reach.
Interestingly, Akshata Murthy, the wife of UK Prime Minister Rishi Sunak, is the daughter of Infosys co-founder NR Narayana Murthy and holds a 0.9% stake in the firm.
Recently, Infosys has kicked off a $1.5 billion partnership with BP, a major player in the energy sector, focusing on comprehensive application services that include development, management, and maintenance.
7. State Bank of India (SBI)
Current Chairman: Dinesh Kumar Khara
Year Established: 1955
SBI stands tall as the big public sector bank in India. They offer a wide range of services, including personal banking, agricultural banking, corporate banking, international banking, and services for NRIs. The bank’s market value showcases its vast network and diverse offerings.
SBI’s roots trace back to the early 19th century with the founding of the Bank of Calcutta (later known as the Bank of Bengal) in 1806. In 1921, it joined forces with the Bank of Bombay and the Bank of Madras to create The Imperial Bank of India.
After the State Bank of India Act was enacted in 1955, the Reserve Bank of India gained control over the Imperial Bank, officially transforming it into the State Bank of India on July 1, 1955.
To eliminate any potential conflicts, the Indian government acquired the RBI’s shares in SBI, given that the RBI serves as the country’s banking regulatory authority.
Also Read: List of Largest Companies in the World by Market Cap
Conclusion
The biggest Indian companies by market capitalization showcase their substantial power and impact within the business landscape. Their remarkable valuations reflect a strong potential for success and expansion.
These top companies have achieved significant financial milestones and played a crucial role in India’s economic progress and global standing. As we look to the future, these industry frontrunners will likely keep influencing the trajectory of Indian commerce.