HDFC Bank, ITC, HDFC market cap rises the most from Oct 2022 to April 2023: Hurun's list

HDFC Bank, ITC, and HDFC are the biggest gainers in market capitalization from October 30, 2022, to April 30, 2023, as per Hurun's latest update on the top 500 Indian companies. Major companies like L&T, Tata Motors, Britannia Industries, and Bajaj Auto were also among the top 10 biggest gainers. In percentage terms, Jindal Stainless, Lloyds Metals and Energy, and Finolex Cables were the top winners. Reliance Industries, TCS, and HDFC Bank continue to be the Big 3 firms of India!

Axis Bank’s Burgundy Private and Hurun India released an update on the list of the 500 most valuable private sector companies in India. The 2022 Burgundy Private Hurun India 500 list was released on December 1, 2022.

However, on Tuesday, Burgundy provided six months update from October 30, 2022- April 30, 2023, for the list.

As per the Hurun's list, in terms of growth, the 2022 Burgundy Private Hurun India 500 – Special Report was led by New Delhi -based Jindal Stainless followed by Lloyds Metals and Energy and Finolex Cables. By absolute value, the biggest gainers were HDFC Bank, ITC, and Housing Development Finance Corporation.

According to the data, HDFC Bank is the top gainer with its market cap rising by ₹1,07,730 crore by the end of April 30, 2023, to ₹9,41,386 crore -- compared to the level as of October 30, 2022.

Further, FMCG-player ITC saw a jump of ₹97,323 crore to ₹5,29,682 crore during the period, while HDFC's market cap climbed by ₹59,328 crore to ₹5,08,172 crore.

In the top 5, Larsen & Toubro and the National Stock Exchange of India (NSE) market value zoomed by ₹47,443 crore and ₹26,000 crore during the period.

Other stocks whose market cap climbed the most, in terms of value were --- Varun Beverages (m-cap up by ₹25,525 crore); Tata Motors ( ₹23,832 crore), Samvardhana Motherson International ( ₹20,702 crore), Bajaj Auto ( ₹18,533 crore) and Britannia Industries ( ₹18,474 crore). These were included in the top 10 stocks whose market cap rose the most from October 30, 2022, to April 30, 2023.

In terms of percentage, Jindal Stainless emerges as the top gainer in terms of percentage growth, recording an impressive 213% increase followed by Lloyds Metals and Energy with a growth of 93%. Finolex Cables' market cap jumped by 71.1%.

Moreover, the value of the top 500 companies from Burgundy Private and Hurun India list in India plunged marginally by 6.4% to ₹212 lakh crore by the end of April 30, 2023, from ₹227 lakh crore as on October 30, 2022.

Anas Rahman Junaid MD and Chief Researcher, Hurun India said, "We are witnessing a unique confluence of events, with the Russia-Ukraine war causing a surge in inflationary pressure worldwide, central banks to increasing their key lending rates and funding winter for startups. Amidst these challenging times, the companies featured in the Burgundy Private Hurun India 500 – Special Report experienced a modest decline of 6.4% over the past six months. During this period, the Burgundy Private Hurun India 500 companies underperformed compared to major indices such as SENSEX and NASDAQ. While SENSEX remained flat, NASDAQ saw an impressive 11% increase from October 30, 2022, to April 30, 2023."

The combined value of the top 10 companies remained flat at ₹71.4 lakh crore, representing a significant portion of India’s GDP.

Among the Big 3 were --- with a value of ₹16.3 lakh crore, Reliance Industries is India’s most valuable company, followed by Tata Consultancy Services (TCS) with ₹11.8 lakh crore and HDFC Bank with ₹9.4 lakh crore.