Ambani's Reliance far outpaces Adani in Hurun's list to emerge as most valuable company in India

Mukesh Ambani-owned Reliance Industries Ltd has topped the list of 500 most valuable companies in India, Axis Bank’s Private Banking Business and Hurun India’s ‘2022 Burgundy Private Hurun India 500’ showed on Thursday.

RIL’s value stood at Rs 17.2 lakh crore, up 3.6 per cent as compared to last year. Tata Consultancy bagged the second spot despite its value contracting 10.8 per cent. The company is valued at Rs 11.6 lakh crore followed by HDFC Bank (with a value of Rs 8.3 lakh crore), the report showed.

Digital service provider Infosys with a value of Rs 6.4 lakh crore stood fourth followed by ICICI Bank with a value of Rs 6.3 lakh crore.


The other five companies which marked their presence in the top 10 were Bharti Airtel (valued at Rs 4.8 lakh crore), HDFC (valued at Rs 4.4 lakh crore), ITC (valued at Rs 4.3 lakh crore), Adani Total Gas (valued at Rs 3.9 lakh crore) and Adani Enterprises (valued at Rs 3.8 lakh crore).

“The total value of the top 10 companies remained flat at INR 72.0 lakh crore (US$872bn), equivalent to 37% of India’s GDP and 31% of the total value of the 2022 Burgundy Private Hurun India 500,” said the report.

The total value of the top ten most valuable Indian enterprises has increased 262% in the past decade.

In the unlisted category, Serum Institute of India turned out to be the most valuable unlisted company with a value of Rs 2.1 lakh crore, followed by BYJU’S (valued at Rs 1.8 lakh crore) and the National Stock Exchange of India (valued at Rs 1,3 lakh crore).

The companies are required to have a minimum value of INR 6,000 crore, equivalent to USD 725 million in order to feature on the list.

The companies in this list come from 36 cities across India, led by Mumbai (159), Bengaluru (63) and New Delhi (42). The three cities contributed to more than half of the ‘2022 Burgundy Private Hurun India 500’ list.

Mumbai lost eight companies in the list when compared to the 2021 Burgundy Private Hurun India 500, whereas Bengaluru and New Delhi gained 11 companies each in the 2022 list.

The Financial Services sector emerged as the biggest contributor to the 2022 list with 15 per cent or 73 companies.

The report also stated that nearly 3.9 lakh new jobs were created by the companies in the list in the last year.