Top 10 Largest Companies in India by Market Cap in 2024: In today’s ever-evolving developed global economy, India’s economy is on a fast track to continued growth. Ranking as the fifth-largest economy globally, with a GDP exceeding $3.94 trillion in 2024, the World Bank’s growth forecast for India projects a 6.6% expansion in FY25.
Driven by the success of its leading companies that have emerged as dominant market players, leveraging their strong fundamentals and innovative strategies, Indian corporations are striving to achieve exceptional growth, market valuation, and capitalisation globally.
Read about | Top 10 largest companies in the world in 2024: Know where India’s largest company stands
India has 71 companies in the Forbes Global 2000, up from 55 the previous year, overtaking the United Kingdom and South Korea to become one of the top five most represented countries with the largest corporations in the world.
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What is market capitalisation?
Market cap, or market capitalisation, is a measure of a company’s value, calculated by multiplying the total number of outstanding shares by the current market price of one share. It provides a snapshot of a company’s size and importance in the market. Consequently, companies with the highest market caps are widely regarded as the most valuable entities in the business world.
Here are the 10 most valuable Indian companies (by market cap) in 2024:
Not so surprisingly, India’s largest company is Reliance Industries. Headed by billionaire Mukesh Ambani, it is also ranked among the top 50 most valuable companies globally. Discover the remaining nine most valuable Indian companies in 2024, leading the way forward with enormous market capitalisation.
Check | Top 10 most valuable companies in the world by market cap in 2024
| Rank | Company Name | Industry | Market Cap (US Dollar) |
| 1 | Reliance Industries | Oil & Gas Operations | $234.13 Billion |
| 2 | Tata Consultancy Services (TCS) | Information Technology | $164.75 Billion |
| 3 | HDFC Bank | Banking | $162.86 Billion |
| 4 | Bharti Airtel | Telecommunications | $101.75 Billion |
| 5 | ICICI Bank | Banking | $98.98 Billion |
| 6 | State Bank of India (SBI) | Banking | $89.64 Billion |
| 7 | LIC India | Insurance | $76.95 Billion |
| 8 | Infosys | Information Technology | $76.25 Billion |
| 9 | Hindustan Unilever (HUL) | Consumer Goods | $68.65 Billion |
| 10 | ITC Limited | Consumer Goods | $63.27 Billion |
Source: Forbes, companiesmarketcap.com
*Please note: Market capitalisation is dynamic and fluctuates with a company’s share price and can change significantly over time or even within a single trading day. The market capitalisation mentioned is recorded as of June 25, 2024.*
1. Reliance Industries Ltd:
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Reliance Industries is India’s largest company, as per market capitalisation. With a market value of $234.13 billion as of June 2024, it is also the 49th most valuable company globally. Led by the billionaire Mukesh Ambani, the corporation is an Indian multinational conglomerate headquartered in Mumbai, catering to the energy, petrochemicals, natural gas, retail, entertainment, telecommunications, mass media, and textiles sectors.
2. Tata Consultancy Services (TCS):
Tata Consultancy Services (TCS), part of Tata Group, is India’s largest information technology services and consulting company, headquartered in Mumbai, ranking second in terms of market cap with a value of $164.75 billion as of June 2024. The company has a strong global presence and provides a wide range of IT services, including consulting, software development, and business process outsourcing.
3. HDFC Bank:
Housing Development Finance Corporation, or HDFC Bank, is an Indian banking and financial services company headquartered in Mumbai. It is India’s largest private sector bank by assets and the world’s tenth-largest bank by market capitalisation as of May 2024. With a current market value of $162.86 billion, the bank has a strong presence in retail and corporate banking, offering a wide range of financial products and services.
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4. Bharti Airtel:
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Bharti Airtel, commonly known as Airtel, is one of India’s leading multinational telecommunications services companies, with a market cap of $101.75 billion as of June 2024. Operating in 18 countries across South Asia and Africa, as well as the Channel Islands, the company provides mobile voice and data services, fixed lines, high-speed broadband, IPTV, DTH, and enterprise services.
5. ICICI Bank:
Industrial Credit and Investment Corporation of India, or ICICI Bank, is India’s second-largest private sector bank and has a market cap of $98.98 billion as of June 2024. An Indian multinational bank and financial services company, headquartered in Mumbai with a registered office in Vadodara, the bank offers a wide range of banking and financial services, including retail banking, corporate banking, and wealth management.
6. State Bank of India (SBI):
The State Bank of India (SBI) is the country’s largest public sector bank and financial services statutory body, headquartered in Mumbai. With a strong presence in both urban and rural areas, SBI has a market cap of ₹7.43 trillion ($89.34 billion) as of June 2024. The bank offers a wide range of banking and financial services, like personal banking, agricultural banking, corporate banking, international banking, and NRI services.
7. Life Insurance Corporation of India (LIC):
The Life Insurance Corporation of India (LIC) is the largest public-sector life insurance, insurance, and institutional investor company in India. Headquartered in Mumbai, it has a strong presence across India, with a market cap of $76.95 billion as of June 2024. LIC offers a wide range of life insurance schemes, pension plans, mutual funds, asset management, and more.
8. Infosys Limited:
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Infosys Limited, another major Indian IT services company co-founded by NR Narayana Murthy, is headquartered in Bangalore and was founded in Pune. With its next-generation digital services and consulting, it provides services in areas such as cloud computing, artificial intelligence, and automation to help clients from 46 countries navigate digital transformation. It has a market cap of $76.25 billion as of June 2024.
9. Hindustan Unilever (HUL):
Hindustan Unilever (HUL) is a British-Dutch-owned Indian subsidiary consumer goods company headquartered in Mumbai. Having a strong presence in Indian markets with brands such as Dove, Lifebuoy, Surf Excel, and more in fast-moving consumer goods, HUL has a market of $68.65 billion, making it one of the most valuable companies in India.
10. ITC Limited:
Imperial Tobacco Limited, or ITC Limited, is a multi-business conglomerate headquartered in Kolkata with a market cap of $63.27 billion. Popularly known for its cigarette brands and strong presence in tobacco, ITC has been diversifying its portfolio in FMCG in recent years, with brands like Classmate, Sunfeast, Savlon, and more, along with hotels, paperboards and packaging, agri-business, and information technology.
