Alibaba’s market capitalisation towers over India’s top four companies

The market capitalisation (m-cap) of the Chinese e-commerce giant Alibaba Group Holding, which made its stock market debut in the US on Friday, stood at $ 231.44 billion. This is equal to the total m-cap of India’s top four companies —TCS, ONGC, Reliance & ITC — by market value. These four make up for 15% of India’s market capitalisation. The total market capitalisaion of four top Indian companies is about $ 244 billion. This could be a reason why Indiaborn e-commerce companies may consider listing on the US bourses instead of India.