Top 10 Indian companies by market value in 2024
Jun 17, 2024, 19:23 IST
India is one of the fastest-growing economies in the world, and the growth is fueled by the giant India's economy is growing quickly, thanks to big companies in different industries like Oil & Gas, Technology, Finance, and FMCG (Fast-Moving Consumer Goods). This article lists the top 10 companies in India based on their market value and explains which sectors they belong to and how much they are worth.
Market value, or market capitalisation (market cap), shows how big a company is in the stock market. It's figured out by multiplying the total number of a company's shares by the current price of one share. Investors and analysts use market cap to understand a company's importance in the market. Here is a look at the top 10 Indian companies by market value as of May 2024.
Market Value: 19.29 lakh crore
CEO: Mukesh Ambani
With no surprise, Reliance Industries is the biggest company in India by market value. It works in many areas, such as energy, petrochemicals, textiles, natural resources, retail, and telecommunications. The high market value of Reliance Industries shows its diverse operations and strong presence in the market.
Market Value: 14.38 lakh crore
CEO: K. Krithivasan
TCS, part of the Tata Group, is a major player in the information technology sector. It offers a range of IT services, consulting, and business solutions, making it the second-largest Indian company by market value. TCS's market valuation highlights its leadership in the IT industry. Notably, TCS has partnered with the UK's National Employment Savings Trust (NEST) using TCS ValueBPS™ to assist clients in retirement planning and saving. Additionally, Marks & Spencer collaborates with TCS to enhance and optimise their business operations, including space, scope, and display (SRD) capabilities.
Market Value: 11.01 lakh crore
CEO: Sashidhar Jagdishan
HDFC Bank, the private bank with the largest assets in India, offers a wide variety of financial products and services. It is well-established in both retail and corporate banking. The market value of HDFC Bank highlights its strong financial performance and the trust it has earned from customers. This valuation also reflects its large customer base and extensive range of services.
Market Value: 7.61 lakh crore
CEO: Sandeep Bakhshi
ICICI Bank is one of the top private-sector banks in India, offering a wide range of banking products and financial services to both corporate and retail customers. These services are available through various channels, including specialised subsidiaries. ICICI Bank's market value showcases its extensive offerings and focus on customer satisfaction.
CEO: Gopal Vittal
Bharti Airtel is a leading telecommunications company operating in 18 countries across Asia and Africa. It provides mobile voice and data services, fixed lines, high-speed broadband, IPTV, DTH, and enterprise services. Bharti Airtel's market value reflects its robust network and large customer base. The company has partnered with Alphabet, Google's parent company, to test high-speed internet in rural India using laser technology with light beams.
Market Value: 6.47 lakh crore
CEO: Salil Parekh
Infosys, a global leader in next-generation digital services and consulting, assists clients in 46 countries with their digital transformation. Its market value showcases Infosys's innovative solutions and extensive international presence. Founded in 1981, Infosys is a global IT services leader.
Market Value: 6.44 lakh crore
CEO: Dinesh Kumar Khara
SBI is the largest public sector bank in India, offering a wide range of services, including personal banking, agricultural banking, corporate banking, international banking, and NRI services. Its market value reflects its vast network and diverse service offerings.
Market Value: 5.55 lakh crore
CEO: Siddhartha Mohanty
Life Insurance Corporation of India (LIC), the largest public insurance company in the country, offers general insurance, mutual funds, asset management, exchange-traded, and index funds. Established through the nationalisation and merger of 245 private insurance companies under the LIC Act 1956, LIC now serves a vast client base through more than 13.5 lakh agents, 1,580 satellite offices, 2,048 branch offices, 113 divisional offices, eight zonal offices, and a central office. In May 2022, the government launched LIC's IPO, selling over ₹21,000 crore worth of 22.13 crore shares, representing a 3.5 per cent stake in the company.
Market Value: 5.32 lakh crore
CEO: Rohit Jawa
Hindustan Unilever, an Indian consumer goods company and a subsidiary of the British-Dutch Unilever, boasts a diverse portfolio that includes cleaning agents, water purifiers, and personal care products. Its market value reflects its strong brand portfolio and extensive consumer base.
Market Value: 5.11 lakh crore
CEO: Sanjiv Puri
ITC is a multi-business conglomerate with a wide-ranging portfolio covering FMCG, hotels, paperboards and packaging, agri-business, and information technology. Its market value mirrors its robust brand presence and varied operations. Originally established as the Imperial Tobacco Company of India Limited, the company underwent name changes, eventually becoming ITC in 1970. Recognisable brands under ITC's umbrella include Flama, Classmate, Sunfeast, Sunrise, Vivel, Savlon, and others.
SEE ALSO:
Top 10 FMCG companies in India by market cap
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Market value, or market capitalisation (market cap), shows how big a company is in the stock market. It's figured out by multiplying the total number of a company's shares by the current price of one share. Investors and analysts use market cap to understand a company's importance in the market. Here is a look at the top 10 Indian companies by market value as of May 2024.
| Rank | Company | Sector | Market Cap (in INR, Lakh Crore) |
| 1 | Reliance Industries | Oil Exploration and Production | 19.29 |
| 2 | Tata Consultancy Services (TCS) | Information Technology | 14.38 |
| 3 | HDFC Bank | Banking | 11.01 |
| 4 | ICICI Bank | Banking | 7.61 |
| 5 | Bharti Airtel | Telecommunications | 6.94 |
| 6 | Infosys | Information Technology | 6.47 |
| 7 | State Bank of India (SBI) | Banking | 6.44 |
| 8 | LIC India | Insurance | 5.55 |
| 9 | Hindustan Unilever (HUL) | FMCG | 5.32 |
| 10 | ITC | FMCG | 5.11 |
1. Reliance Industries
Market Value: 19.29 lakh crore
CEO: Mukesh Ambani
With no surprise, Reliance Industries is the biggest company in India by market value. It works in many areas, such as energy, petrochemicals, textiles, natural resources, retail, and telecommunications. The high market value of Reliance Industries shows its diverse operations and strong presence in the market.
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2. Tata Consultancy Services (TCS)
Market Value: 14.38 lakh crore
CEO: K. Krithivasan
TCS, part of the Tata Group, is a major player in the information technology sector. It offers a range of IT services, consulting, and business solutions, making it the second-largest Indian company by market value. TCS's market valuation highlights its leadership in the IT industry. Notably, TCS has partnered with the UK's National Employment Savings Trust (NEST) using TCS ValueBPS™ to assist clients in retirement planning and saving. Additionally, Marks & Spencer collaborates with TCS to enhance and optimise their business operations, including space, scope, and display (SRD) capabilities.
3. HDFC Bank
Market Value: 11.01 lakh crore
CEO: Sashidhar Jagdishan
HDFC Bank, the private bank with the largest assets in India, offers a wide variety of financial products and services. It is well-established in both retail and corporate banking. The market value of HDFC Bank highlights its strong financial performance and the trust it has earned from customers. This valuation also reflects its large customer base and extensive range of services.
4. ICICI Bank
Market Value: 7.61 lakh crore
CEO: Sandeep Bakhshi
ICICI Bank is one of the top private-sector banks in India, offering a wide range of banking products and financial services to both corporate and retail customers. These services are available through various channels, including specialised subsidiaries. ICICI Bank's market value showcases its extensive offerings and focus on customer satisfaction.
5. Bharti Airtel
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Market Value: 6.94 lakh croreCEO: Gopal Vittal
Bharti Airtel is a leading telecommunications company operating in 18 countries across Asia and Africa. It provides mobile voice and data services, fixed lines, high-speed broadband, IPTV, DTH, and enterprise services. Bharti Airtel's market value reflects its robust network and large customer base. The company has partnered with Alphabet, Google's parent company, to test high-speed internet in rural India using laser technology with light beams.
6. Infosys
Market Value: 6.47 lakh crore
CEO: Salil Parekh
Infosys, a global leader in next-generation digital services and consulting, assists clients in 46 countries with their digital transformation. Its market value showcases Infosys's innovative solutions and extensive international presence. Founded in 1981, Infosys is a global IT services leader.
7. State Bank of India (SBI)
Market Value: 6.44 lakh crore
CEO: Dinesh Kumar Khara
SBI is the largest public sector bank in India, offering a wide range of services, including personal banking, agricultural banking, corporate banking, international banking, and NRI services. Its market value reflects its vast network and diverse service offerings.
8. LIC India
Market Value: 5.55 lakh crore
CEO: Siddhartha Mohanty
Life Insurance Corporation of India (LIC), the largest public insurance company in the country, offers general insurance, mutual funds, asset management, exchange-traded, and index funds. Established through the nationalisation and merger of 245 private insurance companies under the LIC Act 1956, LIC now serves a vast client base through more than 13.5 lakh agents, 1,580 satellite offices, 2,048 branch offices, 113 divisional offices, eight zonal offices, and a central office. In May 2022, the government launched LIC's IPO, selling over ₹21,000 crore worth of 22.13 crore shares, representing a 3.5 per cent stake in the company.
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9. Hindustan Unilever (HUL)
Market Value: 5.32 lakh crore
CEO: Rohit Jawa
Hindustan Unilever, an Indian consumer goods company and a subsidiary of the British-Dutch Unilever, boasts a diverse portfolio that includes cleaning agents, water purifiers, and personal care products. Its market value reflects its strong brand portfolio and extensive consumer base.
10. ITC
Market Value: 5.11 lakh crore
CEO: Sanjiv Puri
ITC is a multi-business conglomerate with a wide-ranging portfolio covering FMCG, hotels, paperboards and packaging, agri-business, and information technology. Its market value mirrors its robust brand presence and varied operations. Originally established as the Imperial Tobacco Company of India Limited, the company underwent name changes, eventually becoming ITC in 1970. Recognisable brands under ITC's umbrella include Flama, Classmate, Sunfeast, Sunrise, Vivel, Savlon, and others.
SEE ALSO:
Top 10 FMCG companies in India by market cap