Which is the Largest Indian Company? Reliance, TCS? Top 10 Indian Companies by Market Capitalization

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Each one of us would be interested to understand which the largest company in India is. Some of us are not sure whether it is Reliance Industries or TCS or HDFC? Some companies are public companies listed in stock exchanges but some others are privately held companies. There are several criteria to measure the size of a company such as its turnover, net profit after tax, market capitalization, enterprise valuation, capital employed etc.

We have selected Market Capitalization or Market Cap as the best criteria for measuring the size. Please note that, since we have selected market cap as the criteria, many privately held companies (like Reliance Jio, Bennett Coleman & co. Ltd (Times Group), Parle Products, Amul, Zomato, Byju’s App etc) are not included in the top 10 list as, being unlisted companies, the concept of Market Cap is not applicable to them.

Based on the market cap of companies listed in Indian stock exchanges, the top 10 Indian companies, in ascending order, are discussed hereafter. The figures for these calculations have been taken based on the closing price of shares, as on 24th August 2020, listed in Bombay Stock Exchange (BSC) and extracted from MoneyControl.com.


Viewers should keep in mind that stock prices change every day by market forces hence the market cap will also keep changing. For the purpose of US$ conversion, 1 US$ = 74.09 Indian Rupees.

1. Reliance Industries Rs 13,50,916.83 US$182.33 billion
2. TCS Rs 8,43,517.32 US$113.85 billion
3. HDFC Bank Rs. 6,14,153.74 US$82.89billion
4. HUL Rs. 5,15,585.26 US$69.59 billion
5. Infosys Rs. 4,03,449.00 US$54.45 billion
6. HDFC Rs 3,27,684.49 US$44.23 billion
7. Bharti Airtel Rs 2,87,616.98 US$38.82 billion
8. Kotak Mahindra rs. 2,74,467.76 US$37.05 billion
9. ICICI Bank Rs 2,62,172.73 US$35.39 billion
10. ITC Rs 2,41,847.56 US$ 32.64 billion


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