Hurun India 500 list: Reliance, TCS, and HDFC Bank among India’s most valuable companies

The top 10 companies in the Hurun India 500 list alone have a higher combined value than Saudi Arabia’s GDP.

Updated on: Feb 19, 2025, 08:09:15 IST

By HT News Desk | Edited by Abhyjith K. Ashokan

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Hurun India 500 List: Reliance Industries, TCS, and HDFC bank are among India's top 10 most valuable companies, according to the 2024 Burgundy Private Hurun India 500 list.

Hurun India 500 list: All of these companies have outperformed the domestic stock market benchmark indices, the BSE Sensex and the NSE Nifty 50, which grew by 27% and 30%, respectively, while the average growth of the companies was 40%. (Representational Image/Unsplash)

The list, created by Axis Bank's banking unit Burgundy Private and Hurun India says that India's top 500 companies have a combined value of $3.8 trillion, which is higher than India's own GDP and also the combined Gross Domestic Product (GDP) of the UAE, Indonesia, and Spain.

The top 10 companies alone have a higher combined value than Saudi Arabia’s GDP.

All of these companies have outperformed the domestic stock market benchmark indices, the BSE Sensex and the NSE Nifty 50, which grew by 27% and 30%, respectively, while the average growth of the companies was 40%.

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List of top 10 companies in the Hurun India 500 list

1) Reliance Industries

Value: ₹17,52,650 crore

2) Tata Consultancy Services (TCS)

Value: ₹16,10,800 crore

3) HDFC Bank

Value: ₹14,22,570 crore

4) Bharti Airtel

Value: ₹9,74,470 crore

5) ICICI Bank

Value: ₹9,30,72 crore

6) Infosys

Value: ₹7,99,40 crore

7) ITC

Value: ₹5,80,670 crore

8) Larsen & Toubro

Value: ₹5,42,770 crore

9) HCL Technologies

Value: ₹5,18,170 crore

10) National Stock Exchange (NSE)

Value: ₹4,70,250 crore

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Interesting facts from the Hurun India 500 list

Billionaire Gautam Adani's Adani Ports and Special Economic Zone was valued at ₹2,73,530 crore as of December 13, while the group as a whole, which includes nine listed companies, was valued at ₹13.40 lakh crore. In comparison, the Ambani-led Reliance was valued at ₹19.71 lakh crore.
Tata Sons with 15 companies under it was the highest valued industrial company, with a 37% jump to ₹32.27 lakh crore. The group constitutes as much as 10% of the total value of the top 500 companies.
Brokerage Motilal Oswal Financial Services was the fastest-growing company in the list with a year-on-year (YoY) value growth of 297%. This was followed by Inox Wind and Zepto.
India's highest valued unlisted company was actually the National Stock Exchange, which also surged 201% in value to ₹4.7 lakh crore in 2024.
Indian startups reversed their ₹4 lakh crore decline in valuation from 2023 and added ₹4.4 lakh crore in value.

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HT News Desk
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