For the third year in a row, Mukesh Ambani's Reliance Industries Limited becomes India's most valuable firm'.

Business

Reliance Industries Tops List of India’s Most Valuable Companies

Published on February 13, 2024

A recent study conducted by Axis Bank’s private banking unit Burgundy Private, in collaboration with Hurun India, has revealed that Mukesh Ambani-led Reliance Industries Limited (RIL) retains its position as India’s ‘most valuable company’ for the third consecutive year, boasting a market capitalization (mcap) of ₹15.64 trillion.

Top Contenders of Reliance Industries:

Following Reliance Industries, Tata Consultancy Services (TCS) and HDFC Bank secure the second and third positions, respectively, with market values of ₹12.36 trillion and ₹11.25 trillion.

Noteworthy entrants in the top five include ICICI Bank (₹6.47 trillion) and Infosys (₹5.71 trillion), reflecting the dominance of the technology and financial sectors.

Key Insights from the Report:

Comprehensive Overview: The Burgundy Private and Hurun India 500 report comprehensively analyzes the 500 most valuable private firms in India, collectively valued at ₹231 trillion, employing approximately 1.3% of the national workforce.

Top 10 Impact: The top 10 companies contribute significantly to the economy, commanding a combined value of ₹73.3 trillion, equivalent to 28% of the Indian GDP, and demonstrating stability compared to the previous year.

Growth Dynamics: Suzlon Energy emerges as the fastest-growing firm, experiencing a remarkable 436% yearly growth, closely followed by Jindal Stainless and JSW Infrastructure, showcasing the dynamism within the corporate landscape.

Changes in Rankings: HDFC’s merger with HDFC Bank resulted in its exclusion from the top 10, while Adani Total Gas and Adani Enterprises slipped out of the ranking. L&T, HCL, and Kotak Mahindra emerged as new contenders.

Representation and Diversity: Serum Institute of India (SII) stands out as the most valuable unlisted company. In contrast, an encouraging trend of women’s representation on corporate boards is observed, with 437 out of the 500 firms featuring female board members.

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