Top Indian Companies by Market Capitalization

by Manshu on August 18, 2011

in Economy

Coal India, which had the largest Indian IPO of about $3 billion last year replaced Reliance Industries as the company with the largest market capitalization today.

I read a few very excitable articles about how great this news was, and how amazing it is that a company that listed less than a year ago has now become the most valuable company, and a few other things like that.

While I don’t share that enthusiasm; I was curious to see a good list of big Indian companies, and specifically – the top Indian companies measured by market capitalization.

The best link I found was on Wiki, but that seemed a little dated, so I have created one of my own.

I used the companies from Wiki, then looked to see if there were any companies in the Sensex or NSE Nifty that weren’t part of it, and came up with a list that seemed like it would contain the biggest Indian companies.

Then I went to Google Finance and got the market capitalization data from there. Due to the methodology, there might be some errors, but as best as I could collect – here is a list of the top 35 Indian companies by market capitalization on 17th August 2011.

S.No. Company

Market Capitalization in Rs. Billion

In Millions USD

at 1 USD = Rs. 45

1 Coal India

2,510.00

55,777.78

2 Reliance Industries

2,470.00

54,888.89

3 ONGC

2,370.00

52,666.67

4 TCS

1,970.00

43,777.78

5 ITC

1,580.00

35,111.11

6 Bharti Airtel

1,510.00

33,555.56

7 NTPC

1,450.00

32,222.22

8 Infosys

1,400.00

31,111.11

9 State Bank of India

1,380.00

30,666.67

10 ICICI Bank

1,050.00

23,333.33

11 L&T

1,000.00

22,222.22

12 HDFC

911.52

20,256.00

13 NMDC

875.00

19,444.44

14 BHEL

870.00

19,333.33

15 Wipro

844.00

18,755.56

16 Indian Oil

763.00

16,955.56

17 GAIL

556.00

12,355.56

18 Sun Pharmaceuticals

501.00

11,133.33

19 TATA Motors

493.00

10,955.56

20 Jindal Steel and Power

482.00

10,711.11

21 Axis Bank

481.00

10,688.89

22 Power Grid Corporation

477.00

10,600.00

23 Mahindra and Mahindra

442.00

9,822.22

24 SAIL

440.00

9,777.78

25 Tata Steel

426.00

9,466.67

26 Punjab National Bank

331.00

7,355.56

27 Oil India

317.00

7,044.44

28 NHPC

304.00

6,755.56

29 DLF

301.00

6,688.89

30 HCL Techonologies

289.00

6,422.22

31 Hindalco

273.00

6,066.67

32 Tata Power

255.00

5,666.67

33 HDFC Bank

204.9

4533.33

34 Grasim

194.00

4,311.11

35 Power Finance Corporation

183.00

4,066.67

The interesting thing about this list is how quickly it thins out – there just seem to be 20 odd companies that are worth $20 billion or more. I thought there will be more than that, and a slightly dated list from Wiki of top Chinese companies show that they have about 40 such companies. Also, the biggest Chinese company – PetroChina is about $200 billion, which is about as much as the top 4 Indian companies.

I will update this list from time to time, and try to keep the data fresh, and if you see any errors in it then please leave a comment and I’ll correct it.

Update: There was an error in the values of  HDFC and HDFC Bank which has been corrected now. Thank you Baskar.

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