RIL tops the list of most valuable Indian companies

WITH A MARKET cap of ₹15.6 trillion, Reliance Industries (RIL) topped the chart of the most valuable Indian companies in 2023, for the third year in a row, closely followed by Tata Consultancy Services (TCS).

- RAJESH KURUP

IT firm TCS came in second with a market cap of ₹12.4 trillion, while HDFC Bank was third in the pecking order with a market cap of 11.3 trillion. The combined value of the top 10 companies remained unchanged from the year-ago period at 73.3 trillion, which is equal to 28% of India's GDP, according to a report by Burgundy Private,Axis Bank's private banking business, and Hurun India.

The list, a compilation of the 500 most valuable private companies in India, saw ICICI Bank in fourth position with a market cap of ₹6.47 trillion, followed by Infosys (5.71 trillion) at fifth. It is based on data from October 2022 to October 2023.