Top 10 Companies in India (Ranked by Market Cap) – 2021

By Rohit Malik

July 9, 2021


In this article, I have ranked the top 10 companies in India based on their market capitalization. I have also provided the company’s financial overview, the company’s revenue and profits, the company’s industry, and much more. So, don’t forget to read this article.

Top 10 Indian companies by market capitalization (updated March 2021)

According to the International Monetary Fund (IMF), India ranks sixth in the world with an estimated nominal gross domestic product (GDP) of $2.87 trillion. This is mainly due to the trade carried out by various Indian companies in India and abroad.

Every company operating in India strives to improve quality and customer satisfaction for the products or services it offers. A company is usually valued based on various parameters such as assets, profit, sales, market value, share price, etc., and classified accordingly.

However, when we talk about the size of a company, one of the most important factors to consider is market capitalization.

In this article, we look at the top 10 listed companies in India based on their current market capitalization.

What is market capitalisation?

Market capitalization is an aggregate measure of a company’s value based on the current price of its shares and the total number of shares outstanding. It is calculated as follows

Market capitalization = (current market price per share)*(total number of shares outstanding)

It classifies companies into different types, such as large, medium, and small capital companies. Companies with a market value of Rs. 28,500 million or more are large-cap stocks.

Shares of companies with a market value between Rs. 8,500 and Rs. 28,500 million are classified as mid-cap and those with a market value of less than Rs. 8,500 million are classified as small-cap. (Related article: Fundamentals of market capitalization in the Indian market).

Let’s take an example.

You can’t judge the size of a company by its share price alone. For example, here are the stock prices of two companies in the automotive sector.

  1. Maruti Suzuki – Rs 7,063
  2. MRF – Rs 85,541

Which company is the biggest?

Just looking at the share price, you would think that MRF’s share price is quite high compared to Maruti Suzuki’s and therefore could be higher. However, the total number of outstanding Maruti Suzuki shares is much larger than that of MRF. Maruti Suzuki has about 30.6 million shares and MRF has 0.43 million shares.

For example, Maruti Suzuki has a market capitalization of Rs 216,141 million and MRF has a market capitalization of Rs 36,825 million. So Maruti Suzuki is a bigger company than MRF.

India’s top 10 companies by market capitalization

Here is a list of the top 10 Indian companies by market capitalization:

1. Reliance Industries

top 10 companies in india - reliance

Reliance Industries Limited (RIL) is an Indian multinational company headquartered in Mumbai and currently headed by Mukesh Ambani. The company was founded in the 1960s by Dhirubhai Ambani and Champaklal Damani as Reliance Commercial Corporation.

Reliance operates across India in the energy, petrochemical, textile, natural resources, retail, and telecommunications sectors. Reliance is one of the most profitable companies in India. The market capitalization value of RIL is Rs. 14,20,338 million with the current price in rupees. 2,100.45.

2. Tata Consultancy Services (TCS)

top 10 companies in india - tcs

Tata Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) and consulting services company, headquartered in Mumbai, Maharashtra, India. It is a subsidiary of the Tata Group which operates in 149 locations in 46 countries.

TCS is the second largest company in India in terms of market capitalization. TCS is one of the most valuable IT services brands in the world. TCS has a market capitalization value of Rs. 11,66,503 crore with a current price in rupees. 3,108.70.

3. HDFC Bank

top 10 companies in india - HDFC

HDFC Bank is an Indian banking and financial services company established in 1994 and headquartered in Mumbai, India. The company’s first headquarters, Sandoz House in Worli, was inaugurated by Manmohan Singh, the then finance minister.

As of March 2020, the company had 1,16,971 permanent employees and 5,130 stores in 2,764 cities. It is the largest private lender in India in terms of assets and market capitalization. The company has a market capitalization of Rs. 8,33,676 crore with a current price of rupees 1,512.80.

4. Infosys

top 10 companies in india - infosys

Infosys Limited is an Indian multinational company providing business consulting, information technology and outsourcing services.

It is the second-largest IT company in India after Tata Consultancy Services, headquartered in Bangalore, Karnataka, India. Infosys has a market capitalization value of Rs. 5,89,781 crore with a current price in rupees. 1,384.25.

5. Hindustan Unilever (HUL)

Hindustan Unilever Limited (HUL) was established in 1933. It is a British-Dutch production company based in Mumbai, India. The company’s products include food, beverages, cleaning products, personal care products, water purifiers and consumer products.

By 2020, Hindustan Unilever’s portfolio had 35 product brands across 20 categories, with 18,000 employees and a turnover of Rs 39,783 crore in 2019-20. The market capitalization value of Hindustan Unilever is Rs. 5,27,195 million, with a current exchange rate in rupees. 2,243.80.

6. Housing Development Finance Corporation Limited (HDFC)

Housing Development Finance Corporation Limited (HDFC) is an Indian financial services company established in 1977 as the first pure mortgage company in India, based in Mumbai. It is one of the largest providers of housing finance in India.

HDFC also operates in banking, life and general insurance, asset management, venture capital, real estate, education, deposits and education loans. The market capitalization value of HDFC is 4,52,818 million rupees, with a current exchange rate in rupees. 2,510.75.

7. ICICI Bank

It is an Indian multinational banking and financial services company headquartered in Mumbai and headquartered in Vadodara, Gujarat. It offers a wide range of banking products and financial services in the areas of investment banking, life and non-life insurance, venture capital and asset management.

ICICI Bank has 5 275 branches and 15 589 ATMs in India and is present in 17 countries including India as of February 2020. ICICI Bank has a market capitalization of Rs 4,11,369 crore at the current exchange rate of Rs. 594.90.

8. Kotak Mahindra Bank

Kotak Mahindra Bank is an Indian retail bank headquartered in Mumbai, India. Founded in 1985 by Uday Kotak.

In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the flagship company of the group, has been granted a banking licence by the RBI. It offers banking products and financial services in the areas of personal finance, investment banking, general insurance, life insurance and asset management. It is the third largest private bank in India, with a market capitalization of Rs. 3,77,261 million at the current exchange rate of the rupee. 1,903.80.

9. State Bank of India (SBI)

State Bank of India (SBI) is an Indian multinational state-owned bank and financial services company headquartered in Mumbai, Maharashtra. SBI has a market share of 23% in terms of assets and 25% in terms of total loans and deposits.

By 2020, SBI will have 22,141 branches and 58,555 ATMs. The current market capitalization of State Bank of India is Rs 3,37,751 million. The latest share price is in rupees. 378.45.

10. Bajaj Finance

Bajaj Finance Limited, a subsidiary of Bajaj Finserv, is an Indian non-banking finance company (NBFC). The company is active in consumer finance, lending to small and medium-sized enterprises, commercial lending and asset management.

Headquartered in Pune, Maharashtra, the company has 294 retail branches and 497 rural branches with over 33,000 distribution points. Bajaj Finance has a market capitalisation of Rs 3,29,434 crore at the current exchange rate in rupees. 5,467.00.

Summary: Top 10 companies in India by market capitalization

Here is the list of the companies with the highest market capitalization in India along with some other popular companies:

S.No.Company nameCurrent priceMarket value (million rupees)
1Reliance Industries2,100.4514,20,338
2TCS3,108.7011,66,503
3HDFC Bank1,512.808,33,676
4Infosys1,384.255,89,781
5HUL2,243.805,27,195
6H D F C2,510.754,52,818
7ICICI Bank594.904,11,369
8Kotak Mach. Bank1,903.803,77,261
9SBI378.453,37,751
10Bajaj Finance5,4673,29,434
11Bharti Airtel529.302,88,762
12HCL1,006.352,73,089
13ITC208.052,56,065
14Asian colours2,470.802,36,998
15Wipro429.252,35,190

Denial: This data will be updated in March 2021. If the stock price changes in the future, the market capitalization will also change. Therefore, the list of top 10 Indian companies by market capitalization may change in the future.

Also read: How to invest in the stock market? A guide for beginners!

So much for this post on the top 10 Indian companies by market capitalization. I hope this was helpful. Good luck and have fun investing.

Frequently Asked Questions

Which company in India has the highest market cap?

Tata Group is the company with the highest market cap in India.

What are the top 10 market cap companies?

The top 10 market cap companies worldwide are: Apple Inc. – $827 billion Microsoft Corp. – $811 billion Google Inc. – $743 billion Amazon.com Inc. – $724 billion Facebook Inc. – $500 billion Microsoft Corp. – $440 billion Alphabet Inc. – $440 billion IBM Corp. – $403 billion Oracle Corp. – $392 billion Intel Corp. – $376 billion

What is the No 1 company in India?

The Tata Group is the largest conglomerate in India.

About the author

Rohit Malik

A yogi who like Finance and Technology. I have been in Indian Stock market for over 12 years now as financial analyst, portfolio manager, trader. Now, I focus on Yoga, Financial Education & Long term investing. 

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