India’s Largest Companies by market capitalization, 2024

As of February 4, 2025, Reliance Industries is the most valuable company in India, with a market cap of $182 billion. Following it are Tata Consultancy Services ($169 billion) and HDFC Bank Limited ($148 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 | $182 billion |
2 | TATA CONSULTANCY SERVICES LTD. | $169 billion |
3 | HDFC BANK LIMITED | $148 billion |
4 | BHARTI AIRTEL LIMITED | $114 billion |
5 | ICICI BANK LIMITED | $102 billion |
6 | INFOSYS LIMITED | $88.75 billion |
7 | STATE BANK OF INDIA | $78.09 billion |
8 | HINDUSTAN UNILEVER LIMITED | $65.98 billion |
9 | ITC LIMITED | $65.37 billion |
10 | LIFE INSURANCE CORPORATION OF INDIA | $60.38 billion |
11 | BAJAJ FINANCE LIMITED | $59.88 billion |
12 | HCL TECHNOLOGIES LIMITED | $52.73 billion |
13 | LARSEN & TOUBRO LIMITED | $51.97 billion |
14 | SUN PHARMACEUTICAL INDUSTRIES LTD. | $48.02 billion |
15 | MARUTI SUZUKI INDIA LTD | $47.51 billion |
16 | KOTAK MAHINDRA BANK LIMITED | $43.1 billion |
17 | MAHINDRA & MAHINDRA LIMITED | $40.68 billion |
18 | WIPRO LIMITED | $37.7 billion |
19 | ULTRATECH CEMENT LIMITED | $37.03 billion |
20 | TITAN COMPANY LIMITED | $36.55 billion |
21 | OIL AND NATURAL GAS CORPORATION LIMITED | $36.02 billion |
22 | AXIS BANK LIMITED | $35.23 billion |
23 | NTPC LTD | $34.71 billion |
24 | BAJAJ FINSERV LTD. | $32.9 billion |
25 | POWER GRID CORPORATION OF INDIA LIMITED | $30.35 billion |
26 | ADANI ENTERPRISES LIMITED | $30.02 billion |
27 | AVENUE SUPERMARTS LIMITED | $29.54 billion |
28 | TATA MOTORS LIMITED | $29.1 billion |
29 | BAJAJ AUTO LIMITED | $28.67 billion |
30 | HINDUSTAN AERONAUTICS LIMITED | $27.14 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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