Top 10 Companies in India by Market Capitalization

1. Reliance Industries Ltd.

Reliance Industries Limited (RIL) is an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra. Reliance owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Reliance is one of the most profitable companies in India, the largest publicly traded company in India by market capitalization, and the largest company in India as measured by revenue after recently surpassing the government-controlled Indian Oil Corporation. On 18 October 2007, Reliance Industries became the first Indian company to exceed $100 billion market capitalization.

The company is ranked 106th on the Fortune Global 500 list of the world's biggest corporations as of 2019.It is ranked 8th among the Top 250 Global Energy Companies by Platts as of 2016. Reliance continues to be India's largest exporter, accounting for 8% of India's total merchandise exports with a value of Rs 147,755 crore and access to markets in 108 countries.Reliance is responsible for almost 5% of the government of India's total revenues from customs and excise duty. It is also the highest income tax payer in the private sector in India. In 2019, Reliance Industries become the first Indian firm to cross Rs 9 lakh crore market valuation mark. It has become the first ever Indian company to cross Rs 10 lakh crore market capitalization.

History

1960-1980

The company was co-founded by Dhirubhai Ambani and Champaklal Damani in 1960's as Reliance Commercial Corporation. In 1965, the partnership ended and Dhirubhai continued the polyester business of the firm. In 1966, Reliance Textiles Engineers Pvt. Ltd. was incorporated in Maharashtra. It established a synthetic fabrics mill in the same year at Naroda in Gujarat. On 8 May 1973, it became Reliance Industries Limited. In 1975, the company expanded its business into textiles, with "Vimal" becoming its major brand in later years. The company held its Initial public offering (IPO) in 1977. The issue was over-subscribed by seven times. In 1979, a textiles company Sidhpur Mills was amalgamated with the company. In 1980, the company expanded its polyester yarn business by setting up a Polyester Filament Yarn Plant in Patalganga, Raigad, Maharashtra with financial and technical collaboration with E. I. du Pont de Nemours & Co., U.S.

1981-2000

In 1985, the name of the company was changed from Reliance Textiles Industries Ltd. to Reliance Industries Ltd. During the years 1985 to 1992, the company expanded its installed capacity for producing polyesteryarn by over 145,000 tonnes per annum.

The Hazira petrochemical plant was commissioned in 1991–92.

In 1995/96, the company entered the telecom industry through a joint venture with NYNEX, USA and promoted Reliance Telecom Private Limited in India.In 1998/99, RIL introduced packaged LPG in 15 kg cylinders under the brand name Reliance Gas.

The years 1998–2000 saw the construction of the integrated petrochemical complex at Jamnagar in Gujarat, the largest refinery in the world.

2001 onwards

In 2001, Reliance Industries Ltd. and Reliance Petroleum Ltd. became India's two largest companies in terms of all major financial parameters.In 2001–02, Reliance Petroleum was merged with Reliance Industries.

In 2002, Reliance announced India's biggest gas discovery (at the Krishna Godavari basin) in nearly three decades and one of the largest gas discoveries in the world during 2002. The in-place volume of natural gas was in excess of 7 trillion cubic feet, equivalent to about 1.2 billion barrels of crude oil. This was the first ever discovery by an Indian private sector company.In 2002–03, RIL purchased a majority stake in Indian Petrochemicals Corporation Ltd. (IPCL), India's second largest petrochemicals company, from the government of India. IPCL was later merged with RIL in 2008.In 2005 and 2006, the company reorganized its business by demerging its investments in power generation and distribution, financial services and telecommunication services into four separate entities.In 2006, Reliance entered the organised retail market in India. with the launch of its retail store format under the brand name of 'Reliance Fresh'. By the end of 2008, Reliance retail had close to 600 stores across 57 cities in India.

2.Tata Consultancy Services Ltd.

Tata Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) service and consulting company headquartered in Mumbai, Maharashtra, India. It is a subsidiary of Tata Group and operates in 149 locations across 46 countries.

TCS is the second largest Indian company by market capitalization. Tata consulting services is now placed among the most valuable IT services brands worldwide. In 2015, TCS was ranked 64th overall in the Forbes World's Most Innovative Companies ranking, making it both the highest-ranked IT services company and the top Indian company. It is the world's largest IT services provider. As of 2018, it is ranked eleventh on the Fortune India 500 list. In April 2018, TCS became the first Indian IT company to reach $100 billion market capitalization, and second Indian company ever (after Reliance Industries achieved it in 2007) after its market capitalization stood at ₹6,79,332.81 crore ($102.6 billion) on the Bombay Stock Exchange.

In 2016-2017, Parent company Tata Sons owned 70% of TCS; and more than 70% of Tata Sons' dividends were generated by TCS. In March 2018, Tata Sons decided to sell stocks of TCS worth $1.25 billion in a bulk deal.

History

1968-2003

Tata Consultancy Services Limited, initially started as "Tata Computer Systems" was founded in 1968 by division of Tata Sons Limited. Its early contracts included punched card services to sister company TISCO (now Tata Steel), working on an Inter-Branch Reconciliation System for the Central Bank of India, and providing bureau services to Unit Trust of India.

In 1975, TCS delivered an electronic depository and trading system called SECOM for the Swiss company SIS SegaInterSettle (deutsch); it also developed System X for the Canadian Depository System and automated the Johannesburg Stock Exchange. TCS associated with a Swiss partner, TKS Teknosoft, which it later acquired.

In 1980, TCS established India's first dedicated software research and development centre, the Tata Research Development and Design Centre (TRDDC) in Pune.In 1981, it established India's first client-dedicated offshore development centre, set up for clients Tandem. TCS later (1993) partnered with Canada-based software factory Integrity Software Corp, which TCS later acquired.

In anticipation of the Y2K bug and the launch of a unified European currency (Euro), Tata Consultancy Services created the factory model for Y2K conversion and developed software tools which automated the conversion process and enabled third-party developer and client implementation. Towards the end of 1999, TCS decided to offer Decision Support System (DSS) in the domestic market under its Corporate Vice President and Transformation Head Subbu Iyer.

2004 to present

On 25 August 2004, TCS became a Publicly Listed Company.

In 2005, TCS became the first India-based IT services company to enter the bioinformatics market. In 2006, it designed an ERP system for the Indian Railway Catering and Tourism Corporation. By 2008, its e-business activities were generating over US$500 million in annual revenues.

TCS entered the small and medium enterprises market for the first time in 2011, with cloud-based offerings. On the last trading day of 2011, it overtook RIL to achieve the highest market capitalisation of any India-based company.In the 2011/12 fiscal year, TCS achieved annual revenues of over US$10 billion for the first time.

In May 2013, TCS was awarded a six-year contract worth over ₹1100 crore to provide services to the Indian Department of Posts. In 2013, the firm moved from the 13th position to 10th position in the League of top 10 global IT services companies and in July 2014, it became the first Indian company with over Rs 5 lakh crore market capitalization.

In Jan 2015, TCS ends RIL's 23-year run as most profitable firm

In Jan 2017, the company announced a partnership with Aurus, Inc., a payments technology company, to deliver payment solutions for retailers using TCS OmniStore, a first of its kind unified store commerce platform.In the same year, TCS China was associated as a joint venture with the Chinese government.

TCS announced its FY19 Q3 results posting 24 percent year-on-year (YoY) rise in profit at Rs 8,105 crore. The stock plunged 2.5 percent intra-day as brokerages cut price target

TCS Honored with Four Stevies® at the 2019 American Business Awards®

3. HDFC Bank Ltd.

HDFC Bank Ltd. is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It has a base of 111,208 permanent employees as of 30 September 2019.HDFC Bank is India’s largest private sector lender by assets. It is the largest bank in India by market capitalisation as of February 2016. It was ranked 60th in 2019 BrandZ Top 100 Most Valuable Global Brands.

History

HDFC Bank was incorporated in 1994, with its registered office in Mumbai, Maharashtra, India. Its first corporate office and a full service branch at Sandoz House, Worli were inaugurated by the then Union Finance Minister, Manmohan Singh.

As of June 30, 2019, the Bank's distribution network was at 5,130 branches across 2,764 cities. The bank also installed 4.30 Lakhs POS terminals and issued 235.7 Lakhsdebit cards and 85.4 Lakhs credit cards in FY 2017.

products & services

HDFC Bank provides a number of products and services including wholesale banking, retail banking, treasury, auto loans, two wheeler loans, personal loans, loans against property, consumer durable loan, lifestyle loan and credit cards. Along with this various digital products are Payzapp and SmartBUY..

merged

HDFC Bank merged with Times Bank in February 2000. This was the first merger of two private banks in the New Generation private sector banks category. In 2008, Centurion Bank was acquired by HDFC Bank. HDFC Bank Board approved the acquisition of CBoP for 95.1 billion INR in one of the largest mergers in the financial sector in India.

4.Hindustan Unilever Limited (HUL)

Hindustan Unilever Limited (HUL) is a British-Dutch manufacturing company headquartered in Mumbai, India. Its products include foods, beverages, cleaning agents, personal care products, water purifiers and consumer goods.

HUL was established in 1933 as Lever Brothers and following merger of constituent groups in 1956 was renamed as Hindustan Lever Limited. The company was renamed in June 2007 as "Hindustan Unilever Limited".

As of 2019 Hindustan Unilever portfolio had 35 product brands in 20 categories and employs 18,000 employees with sales of Rs. 34,619 crores in 2017-18.

In December 2018, HUL announced its acquisition of Glaxo Smithkline's India business for $3.8 billion in an all equity merger deal with 1:4.39 ratio.However the integration of 3800 employees of GSK remained uncertain as HUL stated there was no clause for retention of employees in the deal. In January 2019, HUL said that it expects to complete the merger with Glaxo Smith Kline Consumer Healthcare (GSKCH India) this year.

HUL is the market leader in Indian consumer products with presence in over 20 consumer categories such as soaps, tea, detergents and shampoos amongst others with over 700 million Indian consumers using its products. Sixteen of HUL's brands featured in the ACNielsen Brand Equity list of 100 Most Trusted Brands Annual Survey (2014), carried out by Brand Equity, a supplement of The Economic Times.Hindustan Unilever's corporate headquarters are located at Andheri (E), Mumbai. The campus is spread over 12.5 acres of land and houses over 1,600 employees. Some of the facilities available for the employees include a convenience store, a food court, an occupational health centre, a gym, a sports & recreation centre and a day care centre.The Campus is designed by Mumbai-based architecture firm Kapadia Associates.

The campus received a certification from LEED (Leadership in Energy and Environmental Design)^[19] Gold is a 'New Construction' category, by Indian Green Building Council (IGBC), Hyderabad, under licence from the United States Green Building Council (USGBC)

The company's previous headquarters was located at Backbay Reclamation, Mumbai at the Lever House, where it was housed for more than 46 years.

5.Housing Development Finance Corporation Ltd.

Housing Development Finance Corporation Limited (HDFC) is an Indian financial services company based in Mumbai, India. It is a major provider of finance for housing in India. It also has a presence in banking, life and general insurance, asset management, venture capital, realty, education, deposits and education loans.

It was founded in 1977 as the first specialised mortgage company in India. HDFC was promoted by the Industrial Credit and Investment Corporation of India.Hasmukhbhai Parekh played a key role in the foundation of this company.
In 2000, HDFC Asset Management company launched its mutual fund schemes. In the same year, IRDA granted registration to HDFC Standard Life Insurance, as the first private sector life insurance company in India.

The COMPANY provides housing finance to individuals and corporates for purchase/construction of residential houses. It is one of the largest providers of housing loans in India. In its Annual Report for financial year 2012-13, the company has disclosed that it has disbursed approx. INR 456,000 crores in 35 years of its existence for a total of 4.4 million housing units.
The average loan profile amounts to INR 2.18 million (US$35,160) which lasts for about 13 years and covers approx. 65% of actual property value.

The COMPANY has been providing life insurance since the year 2000, through its subsidiary HDFC Standard Life Insurance company Limited. It offers 33 individual products and 8 group products. It uses the HDFC group network to cross sell by offering customized products. It operates out of 451 offices across India serving over 965 locations. It had a market share of 4.6% of life insurance business in India as of 30 September 2013. HDFC Life has over 15,000 employees.

6.ICICI Bank Limited

ICICI Bank Limited is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra with its registered office in Vadodara, Gujarat. As of 2018, ICICI Bank is the second largest bank in India in terms of assets and market capitalisation. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialised subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management. The bank has a network of 4882 branches and 15101 ATMs across India and has a presence in 17 countries including India.

ICICI Bank is one of the Big Four banks of India. The bank has subsidiaries in the United Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, Dubai International Finance Centre, China. and South Africa; and representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also established branches in Belgium and Germany

History

ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI), an Indian financial institution, as a wholly owned subsidiary in 1994. The parent company was formed in 1955 as a joint-venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project financing to Indian industry. The bank was founded as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent company was later merged with the bank.

ICICI Bank launched internet banking operations in 1998.

ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering of shares in India in 1998, followed by an equity offering in the form of American Depositary Receipts on the NYSE in 2000. ICICI Bank acquired the Bank of Madurai Limited in an all-stock deal in 2001 and sold additional stakes to institutional investors during 2001-02.In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002 and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002.

7.Kotak Mahindra Bank

Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. In February 2003, Reserve Bank of India (RBI) issued the licence to Kotak Mahindra Finance Ltd., the group's flagship company, to carry on banking business.It offers banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, general insurance, life insurance, and wealth management. As of April 2019, it is second largest Indian private sector bank by market capitalization.

History

In 1985 Uday Kotak established what became an Indian financial services conglomerate. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the group's flagship company, received a banking licence from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to be converted into a bank—Kotak Mahindra Bank Limited.

In a study by Brand Finance Banking 500 published in February 2014 by Banker magazine (from The Financial Times stable), KMBL was ranked 245th among the world's top 500 banks with brand valuation of around half a billion dollars ($481 million) and brand rating of AA+.

In 2015, Kotak Bank acquired ING Vysya Bank in a deal valued at ₹150 billion (US$2.2 billion). With the merger, total employment jumped to almost 40,000, and the count of branches reached 1,261. After the merger, ING Group, which controlled ING Vysya Bank, owned a 7% share in Kotak Mahindra Bank.

8.Infosys Limited

Infosys Limited is an Indian multinational corporation that provides business consulting, information technology and outsourcing services. It has its headquarters in Bangalore, Karnataka, India.

Infosys is the second-largest Indian IT company after Tata Consultancy Services by 2017 revenue and 596th largest public company in the world based on revenue. On March 29, 2019, its market capitalisation was $46.52 billion. The credit rating of the company is A− (rating by Standard & Poor's).

History

Infosys was established by seven engineers in Pune, Maharashtra, India with an initial capital of $250 in 1981.^[7] It was registered as Infosys Consultants Private Limited on 2 July 1981.In 1983, it relocated its office to Bangalore, Karnataka, India.

Name change: The company changed its name to Infosys Technologies Private Limited in April 1992 and to Infosys Technologies Limited when it became a public limited company in June 1992. It was later renamed to Infosys Limited in June 2011.

Share listing: An initial public offer (IPO) in February 1993 with an offer price of ₹95 (equivalent to ₹510 or US$7.40 in 2018) per share against book value of ₹20(equivalent to ₹110 or US$1.60 in 2018) per share was undersubscribed but it was "bailed out" by US investment bank Morgan Stanley, which picked up 13% of equity at the offer price. Its shares were listed in stock exchanges in June 1993 with trading opening at ₹145 (equivalent to ₹790 or US$11 in 2018) per share.Its shares were listed on NASDAQ in 1999 through ADR route. The share price surged to ₹8,100 (equivalent to ₹26,000 or US$380 in 2018) by 1999 making it the costliest share on the market at the time. At that time, Infosys was among the 20 biggest companies by market capitalization on the NASDAQ.The ADR listing was shifted from NASDAQ to NYSE Euronext to give its European investors better access to its stock.

Infosys, BangaloreRevenue growth: Its annual revenue reached US$100 million in 1999, US$1 billion in 2004 and US$10 billion in 2017.

Product and portfolio expansion: In July 2014, Infosys started a product subsidiary called EdgeVerve Systems, focusing on enterprise software products for business operations, customer service, procurement and commerce network domains.In August 2015, the Finacle Global Banking Solutions assets were officially transferred from Infosys and became part of the product company EdgeVerve Systems product portfolio.

9.ITC Ltd

ITC Limited is an Indian multinational conglomerate company headquartered in Kolkata, West Bengal.Established in 1910 as the 'Imperial Tobacco Company of India Limited', the company was renamed as the 'India Tobacco Company Limited' in 1970 and later to 'I.T.C. Limited' in 1974. The dots in the name were removed in September 2001 for the company to be renamed as 'ITC Limited' where 'ITC' would no longer be an initialism. The company completed 100 years in 2010 and as of 2012–13, had an annual turnover of US$8.31 billion and a market capitalization of US$52 billion. It employs over 30,000 people at more than 60 locations across India and is part of Forbes 2000 list.

History

"ITC Limited" was incorporated under the name 'Imperial Tobacco' which was later renamed as 'Imperial Tobacco Company of India Limited', succeeding W.D. & H.O. Willson 24 August 1910 as a British-owned company registered in Calcutta. Since the company was largely based on agricultural resource, it ventured into partnerships in 1911 with farmers of southern part of India for sourcing leaf tobacco. Under the company's umbrella, the 'Indian Leaf Tobacco Development Company Limited' was formed in Guntur district of Andhra Pradesh in 1912. The first cigarette factory of the company was set up in 1913 at Bangalore. In 1918, leaf-buying points were created in southern India. ITC's cigarette factory at Munger was equipped with printing facility in 1925, paving way for its first non-tobacco business.Though the first six decades of the Company's existence were primarily devoted to the growth and consolidation of the cigarettes and leaf-tobacco businesses, ITC's packaging & printing business was set up in 1925 as a strategic backward integration for ITC's cigarettes business. It is today India's most sophisticated packaging house.More factories were set up in the following years for cigarette manufacturing across India.

In 1928, construction began for the company's headquarters, the 'Virginia House' at Calcutta. ITC acquired Carreras Tobacco Company's factory at Kidderpore in 1935 to further strengthen its presence. ITC helped to set up indigenous cigarette tissue-paper-making plant in 1946 to significantly reduce the import costs and a factory for printing and packaging was set up at Madras in 1949. The Company acquired the manufacturing business of Tobacco Manufacturers (India) Limited and the complementary lithographic printing business of Printers (India) Limited in 1953.

10.State Bank of India

The State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. It is a government corporation statutory body headquartered in Mumbai, Maharashtra. SBI is ranked as 236th in the Fortune Global 500 list of the world's biggest corporations of 2019.It is the largest bank in India with a 23% market share in assets, besides a share of one-fourth of the total loan and deposits market.

The bank descends from the Bank of Calcutta, founded in 1806, via the Imperial Bank of India, making it the oldest commercial bank in the Indian subcontinent. The Bank of Madras merged into the other two "presidency banks" in British India, the Bank of Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India in 1955. The Government of India took control of the Imperial Bank of India in 1955, with Reserve Bank of India (India's central bank) taking a 60% stake, renaming it the State Bank of India.

History

The roots of the State Bank of India lie in the first decade of the 19th century when the Bank of Calcutta later renamed the Bank of Bengal, was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on 1 July 1843). All three Presidency banks were incorporated as joint stock companies and were the result of royal charters. These three banks received the exclusive right to issue paper currency till 1861 when, with the Paper Currency Act, the right was taken over by the Government of India. The Presidency banks amalgamated on 27 January 1921, and the re-organised banking entity took as its name Imperial Bank of India. The Imperial Bank of India remained a joint stock company but without Government participation.Pursuant to the provisions of the State Bank of India Act of 1955, the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India. On 1 July 1955, the Imperial Bank of India became the State Bank of India. In 2008, the Government of India acquired the Reserve Bank of India's stake in SBI so as to remove any conflict of interest because the RBI is the country's banking regulatory authority.

In 1959, the government passed the State Bank of India (Subsidiary Banks) Act. This made eight banks that had belonged to princely states into subsidiaries of SBI. This was at the time of the first Five Year Plan, which prioritised the development of rural India. The government integrated these banks into the State Bank of India system to expand its rural outreach. In 1963 SBI merged State Bank of Jaipur (est. 1943) and State Bank of Bikaner (est.1944).

SBI has acquired local banks in rescues. The first was the Bank of Bihar (est. 1911), which SBI acquired in 1969, together with its 28 branches. The next year SBI acquired National Bank of Lahore (est. 1942), which had 24 branches. Five years later, in 1975, SBI acquired Krishnaram Baldeo Bank, which had been established in 1916 in Gwalior State, under the patronage of Maharaja Madho Rao Scindia. The bank had been the Dukan Pichadi, a small moneylender, owned by the Maharaja. The new bank's first manager was Jall N. Broacha, a Parsi. In 1985, SBI acquired the Bank of Cochin in Kerala, which had 120 branches. SBI was the acquirer as its affiliate, the State Bank of Travancore, already had an extensive network in Kerala.