15 largest Indian companies by market capitalization

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In this article, we will be looking at 15 of the largest Indian companies by market capitalization. If you want to see more of the biggest Indian companies by market capitalization, go directly to 5 largest Indian companies by market capitalization.

Like the United States, India has experienced significant inflation in 2022. Retail price inflation was 7.41% in September and a Reuters poll of economists from October 13-19 estimates that the inflation could average 6.7% for the year ending March 2023, before falling to 5.2% for the year ending March 2024. The Indian central bank’s inflation target is about him from 2% to 6%.

India’s economy is also expected to slow at least for next year. According to the Reuters Survey of Economists, India’s economy is expected to grow by 6.9% in FY 2022-23, before slowing to 6.1% in FY 2023-24.

In view of inflation and despite the slowdown in growth, the Reserve Bank of India raised the short-term lending rate or repo rate four times from 30/09 to 5.4%.

While India faces short-term headwinds, India has substantial potential.

With a population that will soon overtake that of China, India has the advantage of having one of the youngest populations in the world with an average age of 29 years.

India’s GDP per capita also has substantial potential to increase in the coming decades. According to the World Bank, India had a GDP per capita of $2,277.4 in 2021, up from $443.3 per capita in 2000, but significantly lower than the GDP per capita of developed countries.

Given its demographics and GDP per capita, India has a much higher growth potential than developed countries.

India’s close ties with the United States are also contributing to the country’s growth. With close ties, there is potential for more trade as well as more foreign direct investment in India. In terms of trade between the United States and India, two-way trade in goods and services between the United States and India increased from $120.6 billion in 2020 to $159.1 billion in 2021. As the Indian economy continues to grow, trade could also grow and benefit citizens of both nations.

In terms of foreign direct investment, FDI has increased considerably over the past decade. According to investindia.gov.in,

The total FDI inflows into the country over the past 22 years (April 2000 – March 2022) is $847 billion while the total FDI inflows received over the past 8 years (April 2014 – March 2022) were 523 billion dollars, which represents nearly 40% of total FDI inflows over the past 22 years. In the financial year 2014-15, FDI inflows into India amounted to only $45.15 billion, which increased to $60.22 billion in 2016-17 and following the highest ever annual FDI inflow of $83.57 billion recorded in FY 2021-22.

With more foreign direct investment, it is possible that the Indian economy will grow even faster, as foreign companies, including US companies, often bring in expertise in addition to the capital that India may need to achieve its full potential.

Major Indian Companies

When it comes to the most valuable Indian companies by market cap, many are financial institutions given the importance of financial institutions to the growth of an emerging market. Several others are also doing business in infrastructure and housing given the importance of infrastructure to a growing economy.

Considering India’s size, the 15 most valuable Indian companies are all worth $40 billion or more as of 10/27.

Photo by Sylwia Bartyzel on Unsplash

Methodology

For our list of the 15 largest Indian companies by market capitalization, we have selected the 15 largest companies by market capitalization from Companiesmarketcap.com’s list of largest Indian companies by market capitalization as of 10/27.

15 largest Indian companies by market capitalization

15. Kotak Mahindra Bank

Market cap as of 10/27: $44.96 billion

Kotak Mahindra Bank is an India-based bank that provides a range of banking services such as retail banking, treasury, corporate banking, etc.

For the June-September quarter, Kotak Mahindra Bank reported a 27% year-on-year profit jump to 25.8 billion Indian rupees ($313 million) against analyst estimates of 23.68 billion rupees. One reason for the jump is higher central bank interest rates, which may contribute to net interest income. Another reason is that Kotak Mahindra Bank’s gross bad loans as a percentage of total loans declined to 2.08% at the end of September, from 2.24% at the end of the previous quarter in June. Although too high interest rates are not good for Kotak Mahindra Bank’s profits, the bank is doing well given the current economic conditions. As of 10/27, Kotak Mahindra Bank has a market capitalization of $44.96 billion, which places it 15th on our list of the 15 largest Indian companies by market capitalization.

14. Indian Life Assurance Company (LIC)

Market cap as of 10/27: $45.72 billion

Life Insurance Corporation of India (LIC) is India’s largest insurer which has benefited from India’s economic rebound since the pandemic. In August, Life Insurance Corporation of India (LIC) reported a 20.4% increase in its premium income for the June quarter as the company’s 1.3 million sales agents benefited from the easing of restrictions. restrictions related to COVID-19. For the three months ended June 30, the company’s profit was 6.83 billion rupees, compared to 29.4 million rupees in the year-ago quarter, which was affected by the COVID-19 lockdowns. If it maintains its leading market share, the financial results of Life Insurance Corporation of India (LIC) are likely to be significantly higher in the coming decades.

13. Adani Enterprises

Market cap as of 10/27: $46.02 billion

Adani Enterprises is a holding company that owns businesses ranging from coal mining, oil and gas exploration to ports, power generation and solar manufacturing. Although markets in the United States have fallen significantly in 2022, shares of Adani Enterprises have nearly doubled since the start of the year. As a result, Adani Enterprises has a market capitalization of just over $46 billion, which ranks it 13th on our list of the 15 largest Indian companies by market capitalization.

12. Adani Total Gas

Market cap as of 10/27: $46.90 billion

Adani Total Gas produces and distributes natural gas in India. The company also sells industrial and compressed natural gas to the nation’s commercial, residential and transportation sectors. Although India has a target of net zero carbon emissions by 2070, natural gas is cleaner than coal and India aims to increase the contribution of natural gas to the country’s energy mix to 15 % by 2030, compared to 6.2% currently. If this happens, Adani Total Gas could benefit from increased demand in the medium term if it maintains its current market share. As of 10/27, Adani Total Gas had a market capitalization of $46.9 billion.

11. Bajaj Finance

Market cap as of 10/27: $51.25 billion

Bajaj Finance is an India-based non-bank financial company that offers consumer loans as well as loans to small and medium enterprises. Regarding his strategy going forward, Bajaj Finance Managing Director Rajeev Jain commented on an earnings call,

Whatever I understand from the shareholders, our view is that we are focused on developing the financial services business to the payment and funding business, and we will continue to remain a non-banking business and comply with all bank-like regulations. over the next 2 to 3 years. We would like to reach 100 million customer franchise in the next five years.

With its market capitalization according to companiesmarketcap.com, Bajaj Finance is also one of the most valuable Indian companies in the world.

10. ICT

Market cap as of 10/27: $52.07 billion

ITC is an India-based holding company with businesses that operate in the FMCG, hotel, paperboard, paper and packaging sectors, as well as the agriculture sectors. Although the US stock market and many other stock markets around the world have fallen in 2022, ITC shares are up more than 50% since the start of the year. As a result of this increase, ITC has a market capitalization of over $52 billion as of 10/27, which ranks it 10th on our list of the 15 largest Indian companies by market capitalization.

9. Housing Development Finance Corporation

Market cap as of 10/27: $52.58 billion

Housing Development Finance Corporation is an India-based holding company that provides finance to individuals, businesses and developers for the purchase, development and repair of houses, apartments and commercial properties. The Housing Development Finance Corporation also provides loans, insurance and asset management services. As of 10/27, the Housing Development Finance Corporation had a market capitalization of $52.58 billion.

8. Bharti Airtel

Market cap as of 10/27: $58.79 billion

Bharti Airtel is a global telecommunications company headquartered in India but operating in 18 countries in Asia and Africa. Bharti Airtel offers mobile services as well as digital television. According to the company, Bharti Airtel ranks among the top 3 mobile service providers in the world in terms of number of subscribers considering its 490 million customers across its operations. Considering its market capitalization of nearly $59 billion, Bharti Airtel also ranks 8th on our list of the 15 largest Indian companies by market capitalization.

7. State Bank of India

Market cap as of 10/27: $62.80 billion

State Bank of India is an India-based banking and financial services company that provides treasury, corporate and wholesale banking as well as retail banking and insurance services. State Bank of India is one of India’s largest banks and the company’s retail business is expected to grow. As of 10/27, State Bank of India had a market capitalization of nearly $63 billion.

6. Hindustan Unilever

Market cap as of 10/27: $71.85 billion

Hindustan Unilever is an Indian consumer goods company that sells home cleaning, beauty and personal care products, as well as food and refreshment products. Hindustan Unilever is also a subsidiary of Unilever and accounts for approximately 10.7% of the company’s group sales. With India’s growing population and economy, Hindustan Unilever has substantial growth potential if it can maintain its market share.

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Disclosure: none. 15 largest Indian companies by market capitalization is originally published on Insider Monkey.

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