As of February 18, 2025, Reliance Industries is the most valuable company in India, with a market cap of $179 billion. Following it are Tata Consultancy Services ($164 billion) and HDFC Bank Limited ($150 billion).
Which one is the most valuable in India by market cap? This list comprises the biggest companies currently in India by market cap in 2024:
India’s Largest Companies by market capitalization, 2024
| RANK | COMPANY | MARKET CAPITAL (USD DOLLAR) |
|---|---|---|
| 1 | RELIANCE INDUSTRIES LTD | $179 billion |
| 2 | TATA CONSULTANCY SERVICES LTD. | $164 billion |
| 3 | HDFC BANK LIMITED | $150 billion |
| 4 | BHARTI AIRTEL LIMITED | $119 billion |
| 5 | ICICI BANK LIMITED | $103 billion |
| 6 | INFOSYS LIMITED | $88.76 billion |
| 7 | STATE BANK OF INDIA | $74.4 billion |
| 8 | HINDUSTAN UNILEVER LIMITED | $62.88 billion |
| 9 | BAJAJ FINANCE LIMITED | $59.96 billion |
| 10 | ITC LIMITED | $59.26 billion |
| 11 | LIFE INSURANCE CORPORATION OF INDIA | $55.42 billion |
| 12 | HCL TECHNOLOGIES LIMITED | $53.54 billion |
| 13 | LARSEN & TOUBRO LIMITED | $51.4 billion |
| 14 | SUN PHARMACEUTICAL INDUSTRIES LTD. | $47.1 billion |
| 15 | MARUTI SUZUKI INDIA LTD | $46.02 billion |
| 16 | KOTAK MAHINDRA BANK LIMITED | $44.8 billion |
| 17 | MAHINDRA & MAHINDRA LIMITED | $37.87 billion |
| 18 | ULTRATECH CEMENT LIMITED | $37.47 billion |
| 19 | WIPRO LIMITED | $37.2 billion |
| 20 | AXIS BANK LIMITED | $35.62 billion |
| 21 | BAJAJ FINSERV LTD. | $33.88 billion |
| 22 | NTPC LTD | $33.62 billion |
| 23 | OIL AND NATURAL GAS CORPORATION LIMITED | $33.47 billion |
| 24 | TITAN COMPANY LIMITED | $32.92 billion |
| 25 | TATA MOTORS LIMITED | $28.91 billion |
| 26 | ADANI ENTERPRISES LIMITED | $28.68 billion |
| 27 | AVENUE SUPERMARTS LIMITED | $27.66 billion |
| 28 | POWER GRID CORPORATION OF INDIA LIMITED | $27.63 billion |
| 29 | BAJAJ AUTO LIMITED | $27.42 billion |
| 30 | HINDUSTAN AERONAUTICS LIMITED | $27.13 billion |
Market capitalization, commonly known as market cap, refers to the total market value of a company’s outstanding shares. It is calculated by multiplying the current stock price by the total number of shares outstanding. For example, if a company has 2.34 billion shares outstanding and its stock price is $66.66 per share, its market cap would be $156 billion (2,340,000,000 x $66.66). Investors often use the market cap as a quick estimate of a company’s overall value and as a factor in determining whether to buy a stock. Stocks are often categorized by market cap: mega-cap ($100 billion-plus), large-cap ($10 billion-$100 billion), mid-cap ($2 billion-$10 billion), small-cap ($300 million-$2 billion), and micro-cap (less than $300 million).
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