BENGALURU: Reliance Industries continues its reign in the top position for the third year in a row on the Burgundy Private Hurun India list of the 500 most valuable companies.
With a value of Rs 15.6 lakh crore, it is the most valuable company, followed by Tata Consultancy Services with Rs 12.4 lakh crore and HDFC Bank with Rs 11.3 lakh crore. Burgundy Private, Axis Bank’s Private Banking Business and Hurun India launched the report on Monday, and according to the report, Reliance Industries is valued at least Rs 3 lakh crore more than TCS.
Jio Financial Services has secured No. 28 after demerging from Reliance Industries. HCLTech and Kotak Mahindra Bank make their return to the top 10 list in the 2023 edition. The 2023 Burgundy Private Hurun India 500 companies employ 70 lakh people, with an average of 15,211 employees per organisation, and 437 companies in the list have women’s representation on their boards.
Amitabh Chaudhry, MD and CEO, Axis Bank said the companies featured in the list have collectively created a value of Rs 231 lakh crore for their stakeholders. About 52 firms in the list are less than a decade old. The eight companies in the Adani Group have a combined value of Rs 9.9 lakh crore and constitute 4.3% of the total value of 500 top companies.
As per the report, during the review period, value of the Adani Group companies decreased by 50% or Rs 9,92,953 crore. However, since the supreme court ruling (in favour of Adani Group) on the Adani-Hindenberg verdict, which fell beyond the review period, Adani Group regained Rs 4,72,636 crore in value, as on 17 January 2024. Interestingly, about 61 companies which featured in last year’s list did not make it to the list this year and the top 10 exits include edtech firm Byju’s.