India’s corporate elite may have lost ₹11 lakh crore in value over the past year, but they are still collectively worth more than the entire economy of Canada.
Reliance stays on top
At the summit remains Reliance Industries, valued at ₹19.36 lakh crore.
The Mukesh Ambani-led conglomerate added more than ₹1.8 lakh crore in value during the year, the highest absolute increase among all companies in the ranking. Reliance alone accounts for nearly one-fifth of the value of the top 10 companies.
Here are the top ten firms
Airtel’s rise reshapes the pecking order
Bharti Airtel emerged as one of the biggest winners in the ranking, climbing to third place with a valuation of ₹11.5 lakh crore.
The telecom major’s valuation has surged 198 per cent over the past five years, reflecting investor optimism around India’s digital infrastructure story. Airtel’s rise marks a dramatic shift from a decade ago, when telecom was viewed as a capital-intensive sector struggling with intense competition and regulatory uncertainty.
Today, investors see telecom networks as critical infrastructure for India’s digital economy.
Airtel’s ascent has pushed traditional corporate heavyweights further down the rankings and underlined the growing importance of sectors tied to domestic consumption and digital connectivity.
Financial services tighten their grip
Financial services firms strengthened their presence among India’s most valuable companies.
HDFC Bank retained the second spot despite a 17 per cent decline in valuation during the year, while ICICI Bank climbed to fourth place with a market value exceeding ₹9 lakh crore.
Bajaj Finance entered the top 10 for the first time and emerged as the highest value creator in percentage terms over the past year. Its valuation surged 37 per cent to ₹5.83 lakh crore, propelling it to sixth place.
The National Stock Exchange also broke into the top tier, reflecting the rapid growth of India’s capital markets and retail investing ecosystem.
Together, HDFC Bank, ICICI Bank, Bajaj Finance and NSE highlight how financialisation has become one of the strongest themes driving corporate wealth creation in India.
IT giants lose ground
The reshuffle at the top also reflects the declining dominance of India’s software services industry.
Tata Consultancy Services slipped to fifth place after its valuation fell 44 per cent during the year and 32 per cent over five years. Infosys dropped to ninth place with a five-year decline of 36 per cent.
The changing rankings underscore how investors are increasingly favouring businesses linked to India’s domestic growth story over export-driven technology services firms.
Top 15 Companies by Absolute Value Creation
Top 15 Companies by Absolute Value Creation in the Last 5 Years
Source link
#Indias #top #firms #worth #Canadas #GDP #trn #erosion
