Reliance is the most valued private sector company according to the Hurun Report 2022, followed by TCS and HDFC Bank

Reliance Industries Ltd., owned by Mukesh Ambani, is ranked first on Hurun India’s 2022 Burgundy Private Hurun India 500 list, which was published on Tuesday. 

According to market capitalization and sales, Reliance is the biggest publicly traded business in India and the 100th largest in the world. Energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles are some of its industries.

Exploration and production of hydrocarbons, petroleum refining and marketing, petrochemicals, retail markets, new energy, and telecom (Jio True 5G) are all included in its operations.

This makes it the most valuable private business in India. The research also said that HDFC Bank and Tata Consultancy Services (TCS) finished second and third, respectively, on the list. 

The Hurun India 500 list was topped by Mukesh Ambani’s Reliance Industries, which had a market value of ₹16.4 lakh crore. Second place went to TCS with a market value of  ₹11.8 lakh crore, followed by HDFC Bank with a market value of ₹9.4 lakh crore.

According to the research, the list was put up by Burgundy Private, Axis Bank’s Private Banking Business, and Hurun India. It shows changes in the values of the top 500 Indian firms throughout six months (from 30 October 2022 to 30 April 2023). 

This list of the 500 most valuable non-state-owned businesses in India is ordered based on their worth, which is determined by their market capitalization for listed businesses and their valuations for unlisted businesses.

The Hurun Report also noted a 6.4% little decline in the overall worth of India’s 500 most valued enterprises. According to the research, the firms underperformed in comparison to the SENSEX and other international indexes.

The Hurun Report also noted that the combined value of the top 10 businesses remained constant at 71.5 lakh crore or 31% of the entire value of the 2022 Burgundy Private Hurun India 500 and 37% of India’s GDP. According to the research, Housing Development Finance Corporation, ITC, and HDFC Bank saw the highest gains.

According to the study, Reliance’s worth dropped by 5.1%, or 87,731 crores, during the previous six months. While HDFC Bank’s worth climbed by 12.9% and TCS’s overall value just a little by 0.7%.

The Adani Group’s value dropped by 52%, or 10,25,955 crore, after the damning Hindenburg Report, which accused the company of stock manipulation, accounting fraud, and corporate governance failures.