Reliance tops Hurun's list of India's most valuable private sector companies

Billionaire Mukesh Ambani's Reliance industries is the most valuable private company in the country, as per Hurun India's 2022 Burgundy Private Hurun India 500 list.

The list, which was released on Tuesday, stated that with a value of Rs 16.4 lakh crore, Reliance is India's most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore, and HDFC Bank with Rs 9.4 lakh crore.

Reliance is also the highest taxpayer with a payout of Rs 16,297 crore and the most profitable company with a bottomline of Rs 67,845 crore in 2022-23.

The list ranked vaccine maker Serum Institute of India as the most valuable unlisted company in the country with Rs 1.92 lakh crore in value. It overtook National Stock Exchange, which was pushed to the No. 2 spot with Rs 1.65 lakh crore in value. BYJU'S with Rs 69,100 crore value came in at No.3.

The list by Burgundy Private, Axis Bank's Private Banking Business and Hurun India tracks changes in the value of the top 500 Indian companies during the six-month period (from October 30, 2022, to April 30, 2023), it said in a statement.

It is a list of the 500 most valuable non-state-owned companies in India, ranked according to their value, defined as market capitalization for listed companies, and valuations for non-listed companies.

"The total value of the top 500 companies in India declined marginally by 6.4% to Rs 212 lakh crore from Rs 227 lakh crore as of October 30, 2022," it said adding the companies on the list underperformed compared to SENSEX and other global indices.

The total value of the top 10 companies remains unchanged at Rs 71.5 lakh crore, equivalent to 37% of India's GDP and 31% of the total value of the 2022 Burgundy Private Hurun India 500.

By absolute value, the biggest gainers were HDFC Bank, ITC, and Housing Development Finance Corporation. In comparison, eight companies in the Adani Group decreased its value by 52% or Rs 10,25,955 crore after it was hit by a scathing Hindenburg report.

The report said the value of Reliance decreased by 5.1%, or Rs 87,731 crore in the last six months. While the total value of TCS increased marginally by 0.7% and HDFC Bank increased by 12.9%.