Top 10 Companies in India by Market Capitalization: According to the 2021 data published by the International Monetary Fund (IMF), India is the sixth-largest economy in the world in terms of nominal Gross Domestic Product (GDP), which is valued to be worth US$ 3.04 trillion and estimated to a GDP growth rate of 9.5% in the upcoming year. This is complementary to the various Indian companies that have been doing business in India and overseas.
Every company operating in India works extremely hard to get better in terms of the product/service quality and customer satisfaction that they provide.
An organization is generally evaluated on different parameters such as assets, revenue, profits, sales, market value, share price, etc, and is ranked accordingly.
However, when we talk about the size of a company, one of the biggest factors to look at is its market capitalization. In this post, we are going to discuss the top 10 Indian companies based on their latest market capitalization.
What is Market Capitalization?
Market capitalization is the aggregate valuation of the company based on its current share price and the total number of outstanding stocks. It is calculated by
Market capitalization = (Current market price of 1 share)*(total number of outstanding shares)
It helps to classify the companies into different types like large-cap, mid-cap, and small-cap companies. The companies with a market cap of Rs 28,500 crore or more are large-cap stocks.
Company stocks with a market cap between Rs 8,500 crore and 28,500 crore are mid-cap stocks and those less than Rs 8,500 crore market cap are small-cap stocks. (Related post: Basics of Market Capitalization in Indian Stock Market.)
Let’s understand with an example
Just by looking at the share price, you cannot judge the size of a company. For example, here are the share price of two companies from the automobile sector.
- Maruti Suzuki – Rs 9,782
- MRF – Rs 1,01,696
Which company is bigger?
If you just look at the share prices, you might think that MRF’s share price is quite large compared to Maruti Suzuki, and hence, it may be bigger.
However, the total number of outstanding shares of Maruti Suzuki is much large compared to MRF. Maruti Suzuki has around 30.21 Crore shares while MRF has 0.42 Crore shares.
Therefore, the market capitalization of Maruti Suzuki is Rs 2,95,278Crores while the market capitalization of MRF is Rs 43,203Crores. Therefore, Maruti Suzuki is a bigger company compared to MRF.
Table of Contents
Top 10 Companies in India by Market Capitalization
Here is the list of the top 10 companies in India by market capitalization:
Top 10 Companies in India #1 – Reliance Industries
Reliance Industries Limited (RIL) is an Indian multinational company headquartered in Mumbai, currently headed by Mukesh Ambani. The company was co-founded by Dhirubhai Ambani and Champaklal Damani in the 1960s as Reliance Commercial Corporation.
Reliance owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Reliance is one of the most profitable companies in India. The market capitalization value of RIL is Rs. 17,72,585Crores with a current price of Rs. 2,551.
Top 10 Companies in India #2 –Tata Consultancy Services (TCS)
Tata Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) service and consulting company headquartered in Mumbai, Maharashtra, India. It is a subsidiary of Tata Group and operates in 149 locations across 46 countries.
TCS is the biggest IT company in India and the second-largest Indian company by market capitalization. TCS is now placed among the most valuable IT services brands worldwide. The market capitalization value of TCS is Rs. 12,66,891Crores with a current price of Rs. 3,402.
Top 10 Companies in India #3 – HDFC Bank
HDFC Bank is an Indian banking and financial services company that was incorporated in 1994, with its registered office in Mumbai, India. Its first corporate office at Sandoz House, Worli was inaugurated by the then Union Finance Minister, Manmohan Singh. It is the largest private bank in India.
As of March 2020, it had a base of 1,16,971 permanent employees with 5,130 branches across 2,764 cities. It is India’s largest private sector lender by assets and market capitalization.
It has a market capitalization value of Rs. 12,72,718Crores with a current price of Rs. 1,678.7.
Top 10 Companies in India #4 – Infosys
Infosys Limited is an Indian multinational corporation that provides business consulting, information technology, and outsourcing services and was originally founded in 1981.
It is the second-largest Indian IT company after Tata Consultancy Services with its headquarters in Bangalore, Karnataka, India. The market capitalization value of Infosys is Rs. 6,01,300Crores with a current price of Rs. 1,338.8.
Top 10 Companies in India #5 – Hindustan Unilever (HUL)
Hindustan Unilever Limited (HUL) was established in 1933. It is a British-Dutch manufacturing company headquartered in Mumbai, India. Its products include foods, beverages, cleaning agents, personal care products, water purifiers, and consumer goods.
The market capitalization value of Hindustan Unilever is Rs. 6,34,941Crores with a current price of Rs. 2,646.
Top 10 Companies in India #6 – Life Insurance Corporation of India (LIC)
Life Insurance Corporation of India (LIC) is an Indian statutory insurance and investment corporation, headquartered in Mumbai. It is under the ownership of the Government of India. It stands as one of the oldest and largest insurance providers serving for more than 65 years in India.
The newly listed LIC is the only public insurance player in the country. It is also one of the largest asset managers in India with a total AUM of ₹40.1 trillion on a standalone basis. The market capitalization value of LIC is Rs. 3,97,051Crores with a current market price of Rs. 627.
Top 10 Companies in India #7 – Housing Development Finance Corporation Limited (HDFC)
Housing Development Finance Corporation Limited (HDFC) is an Indian financial services company founded in 1977 as the first specialized mortgage company in India based in Mumbai. It is a major provider of finance for housing in India.
HDFC also has a presence in banking, life and general insurance, asset management, venture capital, realty, education, deposits, and education loans. The market capitalization value of HDFC is Rs. 504,384 Crores with a current price of Rs. 2724.
Top 10 Companies in India #8 – ICICI Bank
ICICI Bank is an Indian multinational banking and financial services company headquartered in Mumbai and its registered office in Vadodara, Gujarat.
It offers a wide range of banking products and financial services in the areas of investment banking, life, non-life insurance, venture capital, and asset management.
ICICI Bank has 5,275 branches and 15,589 ATMs across India and has a presence in 17 countries including India as of February 2020. The market capitalization value of ICICI bank is Rs. 6,96,538crores with a current price of Rs. 990.15.
Top 10 Companies in India #9 – Bajaj Finance
Bajaj Finance Limited,a subsidiary ofBajaj Finserv, is an Indiannon-banking financial company(NBFC). The company deals inconsumer finance, SME (small and medium-sized enterprises) and commercial lending, andwealth management.
Headquartered in Pune, Maharashtra, the company has 294 consumer branches and 497 rural locations with over 33,000+ distribution points. Market capitalization value of Bajaj Finance is Rs. 4,60,198crores with a current price of Rs. 7,558.35.
Top 10 Companies in India #10 – State Bank of India (SBI)
State Bank of India(SBI) is an Indianmultinational,public sectorbankingandfinancial servicesstatutory body headquartered inMumbai, Maharashtra. SBI has a 23% market share by assets and a 25% share of the total loan and deposits market.
SBI has over 22,000 branches and 62,617 ATMs as of 2021. The current market capitalization value of the State Bank of India is Rs. 5,44,356crores with the latest share price of Rs. 617.9, this places it among the top 10 Indian companies by Market Capitalization.
Bonus – Bharti Airtel
Bharti Airtel Limited, often known as Airtel, is an Indian telecommunications services business headquartered in New Delhi.
Depending on the country of operation, Airtel offers 2G, 4G LTE, 4G+ mobile services, fixed line broadband, and voice services. Airtel’s VoLTE technology had also been pushed out across all Indian telecom circles.
It is India’s second-largest mobile network operator and the world’s third-largest mobile network provider. The current market capitalization value of Airtel is Rs. 5,29,542crores with a current price of Rs. 885.55.
Also Read :
- 10 Best Dividend stocks in India.
- 10 Best Blue Chip Companies in India that You Should Know.
- What are FANG stocks? And why are they so popular?
List Of Top Companies in India by Market-Cap
Here is the list of Top companies in India with the largest market cap with a few other popular companies:
| Company | Industry | Market Cap in Cr | Current Price (RS) |
|---|---|---|---|
| Ltd. | Refineries | 17,72,585 | 2,551.05 |
| Tata Consultancy Services Ltd. | IT - Software | 12,66,891 | 3,402.5 |
| HDFC Bank Ltd. | Bank - Private | 12,72,718 | 1,678.95 |
| Infosys Ltd. | IT - Software | 6,01,300 | 1,336.8 |
| Hindustan Unilever Ltd. | Household & Personal Products | 6,34,941 | 2,628.9 |
| Housing Development Finance Corporation Ltd. | Finance - Housing | 5,04,384 | 2724 |
| ICICI Bank Ltd. | Bank - Private | 6,96,538 | 990.4 |
| Bajaj Finance Ltd. | Finance - NBFC | 4,60,198 | 7,542 |
| State Bank Of India | Bank - Public | 5,44,356 | 617.1 |
| Bharti Airtel Ltd. | Telecommunication - Service Provider | 5,29,542 | 885.85 |
| Kotak Mahindra Bank Ltd. | Bank - Private | 3,88,976 | 1,968.1 |
| Wipro Ltd. | IT - Software | 2,17,843 | 406.15 |
| Asian Paints Ltd. | Paints | 3,37,992 | 3,509.25 |
| HCL Technologies Ltd. | IT - Software | 3,13,482 | 1,122.95 |
| ITC Ltd. | Cigarettes-Tobacco | 6,13,133 | 494.65 |
| Avenue Supermarts Ltd. | Retailing | 2,39,391 | 3,678.95 |
| Bajaj Finserv Ltd. | Finance - Investment | 2,60,449 | 1,622.45 |
| Larsen & Toubro Ltd. | Engineering - Construction | 3,49,931 | 2,557.7 |
| Ultratech Cement Ltd. | Cement & Construction Materials | 2,37,412 | 8,115.2 |
| Axis Bank Ltd. | Bank - Private | 3,01,196 | 973.7 |
Disclaimer: This data provided is as on 16th Jan 2023. As the stock price changes in the future, market capitalization will also change. Hence, the list of top 10 companies in India by market capitalization can also change in the future.
Also read:How to Invest in Share Market? A Beginner’s guide!
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Frequently Asked Questions (FAQs)
Which Indian company has the highest market capitalization in 2022?
While looking into the biggest Indian company, Reliance Industries Ltd has the highest market capitalization amongst Indian Companies in 2022. It has a market cap of ₹1,619,455.90 Crores, followed by TCS, HDFC Bank, Infosys, and more.
Who is No 1 company in India?
In terms of market capitalization, Reliance Industries, which is headed by Mukesh Ambani, is the number one company in India. It is a multinational conglomerate that is headquartered in Mumbai, India.
It is a Fortune 500 company and the largest private sector company in India. Its products and services touch almost all Indians on a daily basis and include energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. It has achieved global leadership in many of its businesses.
What is the market capitalization of India?
India ranks 6th in terms of market capitalization after overtaking France and ranked after the US, China, Japan, Hong Kong, and the UK. In October 2021, India’s market cap had reached $3.46 trillion, up by 37%, according to an index compiled by Bloomberg.
Thanks to the pandemic, and the IPO rush, many Indians opened Demat accounts and started trading in order to make an additional source of income, apart from trying to multiply their wealth.
Is a high market cap good?
A company with a high market cap is generally matured and considered to be a large-cap company. Unlike companies with small market capitalization, which are comparatively riskier and volatile, a high market cap can be considered good for investors.
Companies with extremely high market cap are good especially for conservative and less aggressive investors who want moderate returns with very little risk.
Does market cap affect stock price?
Market cap does not directly affect the stock price, however, it reflects the company’s perceived value in the eyes of the investors and this can affect the share price in the long term.
Market capitalization is used to calculate various ratios a part of fundamental analysis and may affect an investor’s decision to invest or not and ultimately the stock price of the company.
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As a seasoned financial analyst with a deep understanding of the Indian stock market and corporate landscape, I would like to dive into the concepts discussed in the article about the top 10 companies in India by market capitalization.
Market Capitalization Overview: The article rightly defines market capitalization as the aggregate valuation of a company based on its current share price and total outstanding shares. This fundamental metric categorizes companies into large-cap, mid-cap, and small-cap, based on their market cap values.
Calculation of Market Capitalization: The formula mentioned in the article is accurate: [ \text{Market Capitalization} = \text{Current market price of 1 share} \times \text{Total number of outstanding shares} ]
This calculation is essential for investors to gauge the size and valuation of a company in the stock market.
Company Size Comparison: The article aptly illustrates the importance of not solely relying on share prices to assess the size of a company. The example featuring Maruti Suzuki and MRF effectively demonstrates how the total number of outstanding shares influences market capitalization. This is a crucial insight for investors to avoid misjudgments based on share prices alone.
Top 10 Companies in India: The list provided includes the market capitalization values and current share prices of the top 10 companies in India. Here's a brief analysis of each:
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Reliance Industries (RIL): A conglomerate with diverse business interests, RIL is the largest company in India by market cap.
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Tata Consultancy Services (TCS): As the top IT services company in India, TCS holds a significant position in the global market.
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HDFC Bank: Being the largest private bank in India, HDFC Bank has a strong presence in the financial sector.
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Infosys: A major player in the IT industry, Infosys is a key contributor to India's software exports.
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Hindustan Unilever (HUL): This consumer goods giant is a leader in the fast-moving consumer goods (FMCG) sector.
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Life Insurance Corporation of India (LIC): The only public insurance player in India, LIC is a massive asset manager with a long-standing history.
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Housing Development Finance Corporation Limited (HDFC): HDFC plays a pivotal role in the housing finance sector in India.
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ICICI Bank: Another major player in the Indian banking sector, ICICI Bank provides a wide range of financial services.
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Bajaj Finance: This non-banking financial company (NBFC) excels in consumer finance, SME lending, and wealth management.
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State Bank of India (SBI): As a public sector banking and financial services giant, SBI holds a significant market share in India.
Bonus – Bharti Airtel: Bharti Airtel, as a leading telecommunications company, is included as a bonus. Its market capitalization reflects its substantial presence in the Indian telecom market.
Additional Insights: The article concludes with FAQs, providing valuable information about the Indian market and addressing common queries.
In summary, this comprehensive article offers a detailed overview of market capitalization, its calculation, and provides insights into the top companies in India, offering readers a well-rounded understanding of the Indian stock market landscape.
