Reliance India’s most valuable company; 2 Adani units join top ranks: Survey | News Bharat

Reliance Industries is India’s most valued listed company at 17.2 trillion rupees, a report said on Thursday.

Reliance was followed by Tata Consultancy Services (TCS) and HDFC Bank with a valuation of Rs 11.6 trillion and Rs 8.3 trillion. Adani Total Gas (ATG) and Adani Enterprises were new entrants to the Top 10 firms of the 2022 Burgundy Private Hurun India 500. The ranking is from Hurun India and Burgundy Private, the private banking business of Axis Bank.

Ranked 9th and 10th, ATG and Adani Enterprises were valued at Rs 3.96 trillion and Rs 3.81 trillion. Sun Pharma and Wipro have dropped out of last year’s top 10 ranking. The 500 companies ranked on the list are worth $2.7 trillion, an amount equal to the gross domestic product (GDP) of India.

“…they (the 500 companies) form the backbone of India’s economy. Together, these 500 companies had combined sales of $820 billion and employed 7.3 million employees,” said Dr Anas Rahman Junaid and Principal Researcher at Hurun India.

“The top line of these 500 companies is equivalent to 29 percent of India’s GDP and these companies employ up to 1.5 percent of the country’s total workforce. What stands out in the report is that 67 companies on the list are less than 10 years old,” said Amitabh Chaudhry, Managing Director and CEO, Axis Bank.

Due to the global economic turmoil, listed companies lost 1.78 trillion rupees compared to last year.

“2022 Burgundy Private Hurun India 500 lost 1.78 trillion rupees in value. Sectors that enjoyed strong growth were energy, retail, hospitality and consumer goods. The software and services sector was the worst hit and cumulatively lost INR 6 lakh crore last year,” Junaid said.

Other companies that made it to the top 10 were Infosys, ICICI Bank, Bharti Airtel, HDFC and ITC.

Vaccine maker Serum Institute of India (SII) has emerged as the most valued unlisted company with a total value of Rs 2.19 trillion. It was followed by online tutor Byju’s and the National Stock Exchange of India with Rs 1.82 trillion and Rs 1.39 trillion.

With 73 of the 500, financial services companies account for the largest number of companies on the list. Healthcare, chemicals, and consumer goods companies followed with 60, 37, and 37 companies in the top 500, respectively.

The list does not include state-owned industries.

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