When it comes to investing your hard-earned money, choosing the right companies can make all the difference. Investing in the largest companies in India by market cap can be a good option if you want to diversify your portfolio or earn stable returns.

Large companies are the backbone of India’s economic growth today. They have a high market capitalisation, are well-established and have been in the market for decades or centuries. Investors often turn to benchmarks like the NIFTY 50 to gauge market performance, comprised of the nation’s top 50 large-cap companies. In this article, learn about the largest companies by market cap in India.

List Of Companies By Market Cap In India

Note: The data is as of June 20, 2024, and sorted per the market cap.

Overview Of The Top 10 Companies By Market Cap In India

The following are the top 10 companies in India as per market cap.

1. Reliance Industries Ltd

Reliance is a large Indian business conglomerate engaged in energy, petrochemicals, textiles, natural energy, telecommunication, retail, and other sectors. In terms of market value, it is Mukesh Ambani’s largest corporation.

For the January-March 2024 quarter, revenue increased to ₹1,51,014.00 crore from ₹1,30,579.00 crore in the previous quarter ended December 2023, and Net Profit increased to ₹11,283.00 crore from ₹9,924.00 crore in the last quarter ended December 2023.

Key ratios

• P/E ratio: 46.84
• ROE: 8.18%
• P/B: 3.83
• EPS: 62.28

2. Tata Consultancy Services Ltd

Tata Consultancy Services is the 2nd largest Indian company by market value ₹13,92,782.79 crore, after Reliance Industries. It is a subsidiary of the Tata Group and an Indian Information Technology company that provides IT and consultancy services to global companies. TCS is one of the most valued IT companies.

For the January-March 2024 quarter, revenue increased to ₹51,488.00 crore from ₹50,844.00 crore in the previous quarter, ended December 2023, and Net Profit increased to ₹11,393.00 crore from ₹10,753.00 crore in the last quarter ended December 2023.

Key ratios

• P/E ratio: 31.57
• ROE: 60.40%
• P/B: 19.07
• EPS: 120.39

3. HDFC Bank Ltd

HDFC Bank is the largest private lender in India, offering a range of retail and wholesale banking services. The company is well-positioned to harness the rapid growth and transformation of the Indian banking segment.

For the January-March 2024 quarter, revenue increased to ₹71,472.75 crore from ₹70,582.61 crore in the previous quarter, ended December 2023, and Net Profit increased to ₹16,511.85 crore from ₹16,372.54 crore in the last quarter ended December 2023.

Key ratios

• P/E ratio: 20.71
• ROE: 13.90%
• P/B: 2.88
• EPS: 80.05

4. Bharti Airtel Ltd 

Bharti Airtel Ltd. is a prominent global telecommunications service provider in 18 countries, including India, Sri Lanka, and 14 African nations. It offers a comprehensive array of telecommunications services encompassing 2G, 3G, and 4G wireless services, fixed-line connections, broadband internet, DTH (Direct-to-Home) services, and more.

For the January-March 2024 quarter, revenue increased to ₹24,345.40 crore from ₹23,866.00 crore in the previous quarter, ended December 2023, and Net Profit increased to ₹1,823.90 crore from ₹1,414.40 crore in the last quarter ended December 2023.

Key ratios

• P/E ratio: 168.90
• ROE: 4.95%
• P/B: 8.35
• EPS: 8.25

5. ICICI Bank Ltd

ICICI Bank is the 2nd largest private sector bank in India. It provides a various range of financial products and services to retail, SME, and corporate clients and operates an extensive network of branches, ATMs, and other service points.

For the January-March 2024 quarter, revenue increased to ₹37,948.36 crore from ₹36,694.58 crore in the previous quarter, ended December 2023, and Net Profit increased to ₹10,707.53 crore from ₹10,271.54 crore in the last quarter ended December 2023.

Key ratios

• P/E ratio: 19.66
• ROE: 17.15%
• P/B: 3.37
• EPS: 58.23

6. State Bank of India 

State Bank of India, a Fortune 500 company, is India’s largest and oldest public sector bank, headquartered in Mumbai. Established over two centuries ago, it operates as a multinational banking and financial services institution under statutory regulations.

For the January-March 2024 quarter, revenue increased to ₹1,11,042.63 crore from ₹1,06,733.78 crore in the previous quarter, ended December 2023, and Net Profit increased to ₹20,698.35 crore from ₹9,163.96 crore in the last quarter ended December 2023.

Key ratios

• P/E ratio: 12.46
• ROE: 16.19%
• P/B: 2.02
• EPS: 68.44

7. Life Insurance Corporation Of India

Life Insurance Corporation (LIC) is India’s leading insurance provider and offers a range of insurance products, including participating and non-participating plans such as unit-linked insurance, savings insurance, term insurance, health insurance, and annuity and pension products.

For the January-March 2024 quarter, revenue increased to ₹2,52,880.67 crore from ₹2,14,221.05 crore in the previous quarter, ended December 2023, and Net Profit increased to ₹13,781.59 crore from ₹9,468.99 crore in the last quarter ended December 2023.

Key ratios

• P/E ratio: 15.9
• ROE: 63.4 %
• P/B: 7.89
• EPS: 64.69

8. Infosys Ltd

Infosys Ltd offers consulting, outsourcing, technology, and next-generation digital services to help clients implement digital transformation strategies. It is the second-largest information technology company in India, following TCS.

For the January-March 2024 quarter, revenue decreased to ₹32,001.00 crore from ₹32,491.00 crore in the previous quarter, ended December 2023, and Net Profit increased to ₹8,480.00 crore from ₹6,552.00 crore in the last quarter ended December 2023.

Key ratios

• P/E ratio: 23.04
• ROE: 33.55%
• P/B:7.73
• EPS: 65.61

9. Hindustan Unilever Ltd

Hindustan Unilever Ltd is an Indian-Dutch company that manufactures a range of products in the FMCG segment—foods, beverages, cleaning agents, personal care products, water purifiers, and consumer goods. It is one of the best stocks for long-term investment.

For the January-March 2024 quarter, revenue decreased to ₹14,857.00 crore from ₹15,188.00 crore in the previous quarter, ended December 2023, and Net Profit decreased to ₹2,406.00 crore from ₹2,519.00 crore in the last quarter ended December 2023.

Key ratios

• P/E ratio: 57.09
• ROE: 19.84%
• P/B:11.33
• EPS: 43.05

10. ITC Ltd

ITC is a multi-brand company that offers diversified products in the FMCG, hotels, paperboards and speciality papers, packaging, agribusiness, and information technology (IT) segments.

For the January-March 2024 quarter, revenue increased to ₹17,752.87 crore from ₹17,651.85 crore in the previous quarter, ended December 2023, and Net Profit decreased to ₹5,020.20 crore from ₹5,572.07 crore in the last quarter ended December 2023.

Key ratios

• P/E ratio: 25.90
• ROE: 28.27%
• P/B:7.32
• EPS: 16.36

Conclusion

Investing in top companies in India by market cap can give you stable returns over time. However, before investing, you can consider evaluating their positions based on their financial performance, growth potential, market value, and other financial metrics.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.