Which are India's 10 most valuable companies in 2021 as per Hurun?

New Delhi: Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) has topped the list of 500 most valuable companies in the country, that was released by research agency Hurun India in coordination with Axis Bank's private banking business Burgundy Private on December 9.

While RIL with a value of Rs 16.65 lakh crore has been ranked first in the 'Burgundy Private Hurun India 500' list, Tata Consultancy Services (TCS) and HDFC Bank, with a value of 13.09 lakh crore and 9.05 lakh crore, respectively, have been placed at the second and third spots.

Infosys has been ranked fourth, ICICI Bank fifth, Housing Development Finance Corporation sixth and Bajaj Finance has been placed at the seventh position.

Kotak Mahindra Bank was ranked eighth, followed by Bharti Airtel ninth and Wipro tenth.

The total value of these top 10 companies grew 47 percent to Rs 72.7 lakh crore (US $970bn), equivalent to 37 percent of India’s GDP and 32 percent of the total value of the '2021 Burgundy Private Hurun India 500' list, an official release noted. Six out of the top 10 companies are headquartered in Mumbai.

"India’s most valuable companies keep getting more valuable, with the total value of the 10 most valuable companies rising five times in the last decade," Hurun India MD and Chief Researcher Anas Rahman Junaid said.

The companies included in the list of 500 most valuable firms are ranked according to their value, defined as market capitalisation for listed companies and valuations for non-listed companies. The cut-off date to arrive at this list was October 30, 2021.

This list refers to companies headquartered in India only; state-owned companies and subsidiaries of foreign companies are not included.

To make it to the list, companies were required to have a minimum value of Rs 5,600 crore, equivalent to US $750 million, the press release noted.

On an average, companies from this list were founded in 1982 and are worth a total of Rs 228 lakh crore (US $3tn), up by 68 percent year-on-year.

"Surprisingly, there has been no slowdown in a year dominated by COVID-19. Both the BSE SENSEX and NIFTY 50 rose by more than 50 percent YoY, whilst the S&P BSE 500 was up 69 percent over the same period last year," the press release said.

"The total value of the '2021 Burgundy Private Hurun India 500' companies is close to Rs 228 lakh crore (US$3tn), which is higher than India’s GDP for FY21," Axis Bank MD and CEO Amitabh Chaudhry said, adding, "What is most heartening is that nearly 10 percent of these companies are younger than 10 years, representing India’s vibrant tech ecosystem."