Mukesh Ambani's Reliance Industries Tops India's Most Valuable Firms List: Report

Reliance Industries has emerged as the most valuable listed company followed by Tata Consultancy Services and HDFC Bank, according to a list released on Thursday..In the '2022 Burgundy Private Hurun India 500 Top 10' list, companies, on an average, were worth a total of Rs 226 lakh crore (USD 2.7 trillion)..The Mukesh Ambani-led Reliance Industries is valued at Rs 17.25 lakh crore, nearly 6 lakh crore more than Tata Consultancy Services which is valued at Rs 11.68 lakh crore, according to the second edition of the list of 500 most valuable companies in India..HDFC Bank, ranked at number three, was valued at Rs 8.33 lakh crore, it added..Other companies that featured in the top 10 list are Infosys, which secured number four position, with a value of Rs 6.46 lakh crore, ICICI Bank at Rs 6.33 lakh crore, Bharti Airtel at Rs 4.89 lakh crore, Housing Development Finance Corporation Rs 4.48 lakh crore, ITC at Rs 4.32 lakh crore, Adani Total Gas at Rs 3.96 lakh crore and Adani Enterprises at Rs 3.81 lakh crore..To make it to the '2022 Burgundy Private Hurun India 500' list, companies were required to have a minimum value of Rs 6,000 crore, equivalent to USD 725 million.."The 2nd edition of the Burgundy Private Hurun India 500 report, featuring India's 500 most valuable companies, could not have come at a better time. From a 'rare bright spot,' when most world economies are staring at a slowdown, India is slated to be entering its decade of eminence.."Indian companies and their leadership deserve great acclamation for their contribution to the country's unique positioning today, and they will play an even bigger role in making India the world's third largest economy over the next decade," Axis Bank Managing Director and Chief Executive Officer Amitabh Chaudhry said..Despite global challenges, the companies on the '2022 Burgundy Private Hurun India 500' list created value to the tune of Rs 226 lakh crore (USD 2.7 trillion), for their stakeholders, he noted..The top line of these 500 companies is equivalent to 29 per cent of India's GDP, and they employ up to 1.5 per cent of the country's total workforce.."What stood out in the report is that 67 companies on the list are younger than 10 years. These new-age companies will indeed shape the coming decade with their entrepreneurship, technology and digital innovations," he added..According to the report, the sectors that enjoyed strong growth are energy, retail, hospitality and consumer goods..The software and services sector was the hardest hit and cumulatively lost Rs 6 lakh crore over last year, said the report.."On the back of inflation and looming recession, Indian IT outsourcing companies are expected to go slow on closing big-ticket deals," Hurun India MD and Chief Researcher Anas Rahman Junaid said..He said the medical diagnostics sector, which enjoyed very high growth during Covid-19 on the back of testing mandates, reversed gains and shed around Rs 13,000 crore in value.."Gautam Adani has launched 7 companies to the list and has acquired the 8th - Ambuja Cements. Perhaps it is not surprising that he is the richest person on the subcontinent. The others include N Chandrasekaran who chairs Tata Sons that added six companies to the list and Sanjeev Goenka and Kumar Mangalam Birla who have added three each to the list," he said..Further, he said, some of the biggest value shedders in the latest list are startups such as Policy Bazaar, Paytm, Zomato and Nykaa, which lost 68 per cent, 59 per cent, 50 per cent and 48 per cent, respectively in value since last year..This trend is a clear indication that startup valuations based on "2021 parameters" in private markets are up for a bumpy ride, Junaid observed..home to 32 per cent of the India 500 with 159 companies, and 48 per cent or Rs 108 lakh crore of the total value, significantly ahead of second-placed Bengaluru with 63 companies, representing 11 per cent of the total value, the report stated..According to the report, women make up 16 per cent of the boards of these companies.."The 2022 Burgundy Private Hurun India 500 are some of the biggest employers of women in the country led by Tata Consultancy Services with about 2.1 lakh women employees," said Junaid..Further, family businesses still make up the bulk of the Indian economy, he said, adding that 70 per cent of the 2022 Burgundy Private Hurun India 500 are family-run businesses.

Mukesh Ambani's Reliance Industries Tops India's Most Valuable Firms List: Report

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP