Reliance Industries has emerged as the most valuable listed company followed by Tata Consultancy Services and HDFC Bank, according to a list released on Thursday.
In the ‘2022 Burgundy Pvt Hurun India 500 Top 10’ list, the companies were, on an average, valued at Rs 226 lakh crore (US$2.7 trillion).
Mukesh Ambani-led Reliance Industries is valued at Rs 17.25 lakh crore, almost Rs 6 lakh crore more than Tata Consultancy Services, which is valued at Rs 11.68 lakh crore, according to the second edition of the list of 500 most valuable companies in India .
The value of HDFC Bank, which was at number three, was estimated at Rs 8.33 lakh crore.
Other companies in the top 10 list are Infosys, which secured the fourth position with a valuation of Rs 6.46 lakh crore, ICICI Bank Rs 6.33 lakh crore, Bharti Airtel Rs 4.89 lakh crore, Housing Development Finance Corporation Rs 4.48 lakh crore, ITC 4.32 Lakh crore rupees, Adani Total Gas Rs 3.96 lakh crore and Adani Enterprises Rs 3.81 lakh crore.
To make it to the ‘2022 Burgundy Pvt Hurun India 500’ list, companies were required to have a minimum net worth of Rs 6,000 crore, equivalent to USD 725 million.
“Burgundy Pvt The second edition of the Hurun India 500 Report, which features India’s 500 most valuable companies, could not have come at a better time. From a ‘rare bright spot’, when most world economies are staring at a recession, India is expected to enter its decade of excellence.
Amitabh, MD & CEO, Axis Bank, said, “Indian companies and their leadership deserve praise for their contribution to the unique situation the country is in today and will do more to make India the world’s third largest economy over the next decade. will play a big role.” Chowdhary said.
He said that despite global challenges, the companies in the ‘2022 Burgundy Pvt Hurun India 500’ list created value of Rs 226 lakh crore (US$ 2.7 trillion) for their stakeholders.
The top line of these 500 companies accounts for 29 percent of India’s GDP, and they employ up to 1.5 percent of the country’s total workforce.
He added, “What stands out in the report is that 67 companies on the list are less than 10 years old. These new-age companies will truly shape the coming decade with their entrepreneurship, technology and digital innovations. “
According to the report, the sectors enjoying strong growth are energy, retail, hospitality and consumer goods.
The report said that the software and services sector was the worst hit and overall lost Rs 6 lakh crore as compared to last year.
Anas Rehman Junaid, managing director and chief researcher, Hurun India, said, “Due to inflation and looming recession, the pace of closing large deals by Indian IT outsourcing companies is expected to slow down.”
He said the medical diagnostics sector, which enjoyed very high growth during Covid-19 on the back of testing mandate, reversed gains and shed nearly Rs 13,000 crore in value.
“Gautam Adani has launched 7 companies in the list and acquired the 8th – Ambuja Cements. Perhaps it is not surprising that he is the richest person in the subcontinent. Others include N Chandrasekaran, who is the chairman of Tata Sons. who have added six companies to the list. And Sanjiv Goenka and Kumar Mangalam Birla who have added three each to the list,” he said.
Besides, he said, some of the biggest value shedders in the latest list are startups like PolicyBazaar, Paytm, Zomato and Nykaa, which lost 68 per cent, 59 per cent, 50 per cent and 48 per cent respectively in the last year.
Junaid said this trend is a clear indication that startup valuations in the private markets are in for a bumpy ride based on “2021 parameters”.
India with 159 companies accounts for 32 per cent of the India 500, and 48 per cent of the total value or Rs 108 lakh crore, well ahead of second-placed Bengaluru with 63 companies, which accounts for 11 per cent of the total value, the report said.
According to the report, 16 per cent of the boards of these companies are women.
Junaid said, “2022 Burgundy Pvt Hurun India 500 with approximately 2.1 lakh women employees led by Tata Consultancy Services is the largest employer of women in the country.”
Moreover, family businesses still make up the bulk of the Indian economy, he said, adding that 70 per cent of the 2022 Burgundy Pvt Hurun India 500 are family-run businesses.
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