Corporate Earnings, India Inc

Illustration: Binay Sinha

The number of Indian corporate groups valued at over $100 billion has risen to eight, with three new additions last year, driven by a surge in domestic equities. Sunil Mittal Bharti Airtel Group, ICICI Bank Group and Kumar Mangalam Birla-led Aditya Birla Group are the three new members to this exclusive club. At the top is the over 150-year-old Tata Group with a combined market capitalisation of $366 billion, followed by Mukesh Ambani-led Reliance Group ($267 billion) and Gautam Adani’s Adani Group ($205 billion). With a combined market value of about $1.5 trillion, these eight groups account for nearly 30 per cent of India’s market capitalisation. Of the eight groups, Airtel’s market value has increased the most, thanks to a 65 per cent surge in the market value of flagship Bharti Airtel to nearly $100 billion and its subsidiary Bharti Hexacom also listed in May. The Adani Group has seen the second-biggest jump in market value at 65 per cent. Aditya Birla Group’s market value has increased by over 50 per cent, making it the latest entrant to the $100 billion club. HDFC group is the only group that has seen a decline in its market value. The Nifty 500 index has risen by about 35 per cent in the last one year.

first published: May 30, 2024 | 4:54 pm First


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