Hurun Report 2022: Reliance tops list of most valuable private sector companies, followed by TCS, HDFC Bank

Hurun India's 2022 Burgundy Private Hurun India 500 list released on Tuesday has placed Mukesh Ambani's Reliance Industries Ltd at the top, marking it as the most valuable private company in India. The report also noted that Tata Consultancy Services (TCS), and HDFC Bank took second and third place in the list. 

Billionaire Mukesh Ambani helmed Reliance Industries topped the Hurun India 500 list with a market value of ₹16.4 lakh crore. TCS with a market value of ₹11.8 lakh crore took second place followed by HDFC Bank with a market value of ₹9.4 lakh crore.

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

This is a list of 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 Hurun Report also mentioned that the total value of 500 most valuable companies in India reduced marginally by 6.4%. The report added that the companies underperformed compared to SENSEX and other global indices.

The Hurun Report further mentioned that the total value of the top ten companies remained unchanged at ₹71.5 lakh crore, equivalent to 37 per cent of India's GDP and 31 per cent of the total value of the 2022 Burgundy Private Hurun India 500.

As per the report, the biggest gainer were HDFC Bank, ITC and Housing Development Finance Corporation.

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

The Adani Group, that was hit by a scathing Hindenburg Report alleging stock manipulation, accounting fraud, and corporate governance lapses, their value decreased by 52 per cent or ₹10,25,955 crore. 

(With PTI inputs)