Hurun List 2024: Reliance, TCS, Infosys, HDFC Bank among India’s top 10 most valuable companies; Full list here | Stock Market News

Hurun List 2024: Reliance Industries topped the 2024 Burgandy Private Hurun India’s list of the 10 most valuable private companies in India, followed by Tata Consultancy Services (TCS) and HDFC Bank in second and third place, respectively. The combined market valuation of these top 10 companies was greater than Saudi Arabia’s gross domestic product (GDP).

According to Axis Bank’s banking unit Burgundy Private and Hurun India, the top 500 companies have a cumulative value of $3.8 trillion ( ₹324 lakh crore, up 40 per cent), which is higher than India’s GDP and the combined GDPs of UAE, Indonesia, and Spain. The companies outperformed the domestic benchmarks, the BSE Sensex and the NSE Nifty 50, which grew by 27 per cent and 30 per cent, respectively, during the same period.

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Hurun List 2024: Key Metrics

-Mukesh Ambani-led Reliance Industries leads India’s top 10 most valued companies list with a ₹17.5 lakh crore valuation, while TCS, India’s largest IT major, came second with a 30 per cent growth and ₹16.1 lakh crore valuation. HDFC Bank ranks third with a valuation of ₹14.2 lakh crore.

-Billionaire industrialist Gautam Adani’s flagship Adani Ports and Special Economic Zone (SEZ) was valued at ₹2,73,530 crore as of December 13, the cut-off date for the list. The Adani Group, which includes nine listed companies, was valued at ₹13.40 lakh crore, while the Ambani-led Reliance Group’s overall valuation was pegged at ₹19.71 lakh crore. 

-Reliance Industries is valued at least ₹1.9 lakh crore more than TCS. The salt-to-software Tata Sons led among the industrial groups in terms of valuation, with a 37 per cent jump to ₹32.27 lakh crore. The Tata Group, with 15 companies, constitutes 10 per cent of the total value of the 500 top companies.

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-Brokerage Motilal Oswal Financial Services leads the 2024 Burgundy Private Hurun India 500 as the fastest-growing company with a remarkable year-on-year (YoY) value growth of 297 per cent, followed closely by Inox Wind and Zepto, both nearly tripling their valuations over the year.

-For the first time, Bharti Airtel storms into the top five with a ₹9.74 lakh crore valuation, a 75 per cent increase, climbing two spots. For the first time since the inception of the Hurun India 500 list, the National Stock Exchange (NSE), valued at ₹4.7 lakh crore, has secured a place in the Top 10.

-India’s largest stock exchange, NSE, surged by 201 per cent in value to ₹4.7 lakh crore in 2024 and emerged as India’s most valued unlisted company. Startups in the Hurun India List 2024 collectively registered a net increase of ₹1,09,259 crore in 2024, led by Zepto, OYO, and Zerodha.

-In 2024, the top-valued companies collectively spent ₹11,000 crore on corporate social responsibility (CSR). Each of the top 500 companies on the 2024 Burgandy Private Hurun India 500 list is valued at over $1 billion. With a combined revenue of $1 trillion, these companies posted a net profit of ₹eight lakh crore, paid ₹2.2 lakh crore in taxes, and employed 85 lakh people. 

Also Read: Hurun India Rich List 2024: Gautam Adani at #1, billionaire count crosses 300, cumulative wealth & more

-Indian startup IPOs gained strong momentum, reflecting renewed investor confidence in the ecosystem. Indian startups reversed their ₹4 lakh crore valuation decline from 2023 and added ₹4.4 lakh crore in value. Zomato added ₹1.7 lakh crore in 2024, contributing to a total ₹3.9 lakh crore valuation gain across all publicly listed startups.

-Financial services lead Hurun List 2024 with 63 companies valued at ₹62 lakh crore, contributing 19 per cent of the total. The total value of the top ten most valuable Indian enterprises has increased 3.5 times over the past decade, up from only 1.5 times in last year’s list. Notably, the top seven companies have remained in the top 10 for the past five and ten years.

“The qualification threshold for the 2024 Burgundy Private Hurun India 500 has increased from ₹6,700 crore to ₹9,580 crore, reflecting the financial growth of Indian enterprises. For the first time, every company on the list has achieved billion-dollar status. The cumulative revenue of these companies is $1 trillion, which is more than a quarter of India’s GDP,” said Anas Rahman Junaid, Founder and Chief Researcher at Hurun India.

Also Read: Mumbai dethrones Beijing as Asia’s billionaire hotspot: Hurun Global Rich List 2024

Hurun List 2024: India’s top 10 most valued companies

1.Reliance Industries: ₹17,52,650 crore

2.TCS: ₹16,10,800 crore

3.HDFC Bank: ₹14,22,570 crore

4.Bharti Airtel: ₹9,74,470 crore

5.ICICI Bank: ₹9,30,72 crore

6.Infosys: ₹7,99,40 crore

8.Larsen & Toubro: ₹5,42,770 crore

9.HCL Technologies: ₹5,18,170 crore

10.NSE: ₹4,70,250 crore