Top 10 Indian Companies by Market Value in 2023

Here are the top 10 Indian companies by market value in 2023, based on data from Forbes India

India is one of the fastest-growing economies in the world, with a diverse and dynamic market. The country is home to some of the most valuable and influential companies in various sectors, such as technology, energy, banking, consumer goods, and telecommunications. These companies have contributed significantly to India’s economic growth and development, as well as to its global reputation and competitiveness.

This article will list the top 10 Indian companies by market value in 2023, based on data from Forbes India and other sources. We will also provide insights into their sectors, products, and achievements. Market value, or market capitalization, is the total value of all a company’s shares of stock. It is calculated by multiplying the current market price per share by the number of shares outstanding. Market value is a key indicator of a company’s size, success, and potential.

Here are the top 10 Indian companies by market value in 2023:

1. Reliance Industries: Reliance Industries is the largest company in India by market value, with a valuation of 1,686,727.32 crores (approximately US$226 billion) as of July 2023. Reliance Industries is a conglomerate holding company that operates in various sectors, including oil exploration and production, petrochemicals, textiles, natural resources, retail, and telecommunications. Reliance Industries is known for its flagship brand Jio, India’s largest mobile network operator and digital service provider. Reliance Industries has also made several strategic partnerships and investments with global giants such as Facebook, Google, Microsoft, and Saudi Aramco.
2. TATA Consultancy Services (TCS): TCS is the second-largest company in India by market value, with a valuation of 1,168,591.24 crores (approximately US$156 billion) as of July 2023. TCS is India’s largest information technology (IT) company and one of the world’s leading IT services providers. TCS offers consulting, software development, business process outsourcing, cloud computing, artificial intelligence, and digital transformation services. TCS has a global presence in over 50 countries and serves clients across various industries, such as banking, retail, healthcare, manufacturing, and government.
3. HDFC Bank: HDFC Bank is the third-largest company in India by market value, with a valuation of 918,089.49 crores (approximately US$123 billion) as of July 2023. HDFC Bank is India’s largest private-sector bank and one of the country’s most trusted and profitable banks. HDFC Bank offers a wide range of banking products and services, such as deposits, loans, cards, insurance, investments, and digital banking. HDFC Bank has over 5,600 branches and 16,500 ATMs across India, serving over 56 million customers.
4. Infosys: Infosys is the fourth-largest company in India by market value, with a valuation of 529,626.80 crores (approximately US$71 billion) as of July 2023. Infosys is India’s second-largest IT company and one of the world’s leading IT services providers. Infosys offers consulting, software development, business process outsourcing, cloud computing, artificial intelligence, and digital transformation services. Infosys has a global presence in over 40 countries and serves clients across various industries, such as finance, retail, healthcare, manufacturing, and telecom.
5. Hindustan Unilever: Hindustan Unilever is the fifth-largest company in India by market value, with a valuation of 124266.75 crores (approximately US$17 billion) as of July 2023. Hindustan Unilever is India’s largest consumer goods company and one of the country’s most admired and respected brands. Hindustan Unilever produces and sells a wide range of products, such as soaps, detergents, shampoos, toothpaste, cosmetics, beverages, ice creams, and packaged foods. Hindustan Unilever has over 35 brands and reaches over 200 million consumers daily.
6. ICICI Bank: ICICI Bank is the sixth-largest company in India by market value, with a valuation of 648287.71 crores (approximately US$87 billion) as of July 2023. ICICI Bank is India’s second-largest private-sector bank and one of the country’s most innovative and diversified banks. ICICI Bank offers a range of banking products and services, such as deposits, loans, cards, insurance, investments, and digital banking. ICICI Bank has over 5,200 branches and 15,000 ATMs across India and serves over 55 million customers.
7. HDFC: HDFC is the seventh-largest company in India by market value, with a valuation of 504854.53 crores (approximately US$68 billion) as of July 2023. HDFC is India’s largest housing finance company and one of the country’s most trusted and reliable financial institutions. HDFC provides housing loans and related services to individuals and corporate customers. HDFC also has subsidiaries and joint ventures in other sectors, such as banking, insurance, asset management, real estate, and education.
8. State Bank of India (SBI): SBI is the eighth-largest company in India by market value, with a valuation of 497547.12 crores (approximately US$67 billion) as of July 2023. SBI is India’s largest public sector bank and one of the country’s oldest and most prestigious banks. SBI offers various banking products and services, such as deposits, loans, cards, insurance, investments, and digital banking. SBI has over 22,000 branches and 58,000 ATMs across India and serves over 440 million customers.
9. ITC: ITC is the ninth-largest company in India by market value, with a valuation of 551493.29 crores (approximately US$74 billion) as of July 2023. ITC is India’s largest diversified conglomerate and one of the country’s most respected and responsible corporate citizens. ITC operates in various sectors, such as tobacco, hotels, paper, agriculture, food, personal care, education, and social development. ITC has over 60 brands and reaches more than 150 million consumers daily.
10. Bharti Airtel: Bharti Airtel is the tenth-largest company in India by market value, with a valuation of 490668.96 crores (approximately US$66 billion) as of July 2023. Bharti Airtel is India’s second-largest mobile network operator and one of the leading telecommunications service providers in the world. Bharti Airtel offers services for voice, data, broadband, DTH, enterprise, and digital platforms. Bharti Airtel has over 320 million subscribers in India and operates in 18 countries across Asia and Africa.