Top 10 Companies in India by Market Capitalization

Top 10 Companies in India by Market Capitalization

Top 10 Companies in India by Market Capitalization (Updated Sept’19):

As per the International Monetary Fund (IMF), India is the seventh-largest economy in the world in terms of nominal Gross Domestic Product (GDP),  which is valued to be worth US$ 2.308 trillion. This is mainly due to business various Indian companies have been doing in India and overseas. 

Every company operating in India works extremely hard to get better in terms of the quality and customer satisfaction that they provide through its products or services. An organization is generally evaluated on different parameters such as assets, profits, sales, market value, share price, etc. and is ranked accordingly. However, when we talk about the size of a company, one of the biggest factors to look at is its market capitalization.

In this post, we are going to discuss the ten biggest public companies in India based on their latest market capitalization.

What is market capitalization?

Market capitalization is the aggregate valuation of the company based on its current share price and the total number of outstanding stocks. It is calculated by

Market capitalization = (Current market price of 1 share)*(total number of outstanding shares)

It helps to classify the companies in different types like large cap, mid cap, and small cap companies. The companies with a market cap of Rs 29,000 crore or more are large-cap stocks. Company stocks with a market cap between Rs 8,500 crore and 29,000 crores are mid-cap stocks and those less than Rs 8,500 crore market cap are small-cap stocks.

Related post: Basics of Market Capitalization in Indian Stock Market.


Just by looking at the share price, you cannot judge the size of a company. For example, here are the share price of two companies from the automobile sector.

  1. Maruti Suzuki – Rs 5987.70
  2. Eicher Motors – Rs 15750.00

Which company is bigger?

If you just look at the share prices, you might think that Eicher Motors share price is quite large compared to Maruti Suzuki, and hence, it may be bigger.

However, the total number of outstanding shares of Maruti Suzuki is much large compared to Eicher Motors. Maruti Suzuki have around 30.2 Crore shares while Eicher motors have 2.72 crores shares. Therefore, the market capitalization of Maruti Suzuki is Rs 180,828.54 Crores while the market capitalization of Eicher Motors is Rs 42,840 Crores.

Therefore, Maruti Suzuki is a bigger company compared to Eicher motors.

Top 10 Companies in India by Market Capitalization

Here is the list of the top 10 companies in India by market capitalization:

1. Tata Consultancy Services (TCS)

TCS building

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 largest Indian company by market capitalization. TCS is now placed among the most valuable IT services brands worldwide. The market capitalization value of TCS is Rs. 802466.23 Crores with a current price of Rs.2138.55.

2. Reliance Industries

Reliance Industries Limited

Reliance Industries Limited (RIL) is an Indian multinational company headquartered in Mumbai. The company was co-founded by Dhirubhai Ambani and Champaklal Damani in the 1960s as Reliance Commercial Corporation.

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 market capitalization value of RIL is Rs.764308.09 Crores with a current price of Rs.1205.70.

3. HDFC Bank


HDFC Bank is an Indian banking and financial services company that was incorporated in 1994, with its registered office in Mumbai, India. Its first corporate office at Sandoz House, Worli was inaugurated by the then Union Finance Minister, Manmohan Singh.

As of  June 2019, it had a base of 1,04,154 permanent employees with 5,130 branches across 2,764 cities. It is India’s largest private sector lender by assets and market capitalization. It has a market capitalization value of Rs.598433.19 Crores with a current price of Rs.2187.75.

4. Hindustan Unilever

Hindustan Unilever
Hindustan Unilever Limited (HUL) was established in 1933. It 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.

As of 2019 Hindustan Unilever portfolio had 35 product brands in 20 categories with 18,000 employees and sales of Rs. 34,619 crores in 2017-18. The market capitalization value of Hindustan Unilever is Rs.395987.42 Crores with a current price of Rs.1829.20.

5. Infosys

Infosys building

Infosys Limited is an Indian multinational corporation that provides business consulting, information technology and outsourcing services.

It is the second-largest Indian IT company after Tata Consultancy Services with its headquarters in Bangalore, Karnataka, India. The market capitalization value of Infosys is Rs.354285.41 Crores with a current price of Rs.829.85.

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6. H D F C

HDFC Limited

Housing Development Finance Corporation Limited (HDFC) is an Indian financial services company founded in 1977 as the first specialized mortgage company in India based in Mumbai. It is a major provider of finance for housing in India.

HDFC also has a presence in banking, life and general insurance, asset management, venture capital, realty, education, deposits, and education loans. The market capitalization value of HDFC is Rs.343110.50 Crores with a current price of Rs.1988.30.

7. ITC

ITC Limited Logo

ITC Limited is an Indian multinational conglomerate company headquartered in Kolkata, India.

It was 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’. It has a market capitalization value of Rs. 293918.22 crores with current price of Rs.239.25.

8. Kotak Mahindra Bank

Kotak Mahindra Bank

Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, India. Established in 1985  by Uday Kotak.

In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the group’s flagship company, received a banking license from the RBI. It offers banking products and financial services in the areas of personal finance, investment banking, general insurance, life insurance, and wealth management. It is the 2nd largest Indian private sector bank by market capitalization value of Rs. 279739.96 crores with current price of Rs.1464.75.

9. ICICI Bank

ICICI bank building

It is an Indian multinational banking and financial services company headquartered in Mumbai and its registered office in Vadodara, Gujarat. It offers a wide range of banking products and financial services  in the areas of investment banking, life, non-life insurance, venture capital, and asset management.

ICICI Bank has 4867 branches and 14367 ATMs across India and has a presence in 17 countries including India as on March 31, 2018. The market capitalization value of ICICI bank is Rs.257904.55 crores with a current price of Rs.399.35.

10. State Bank of India

State Bank of India

The State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body with its headquarters in Mumbai.

SBI descends from the Bank of Calcutta, founded in 1806, via the Imperial Bank of India which in turn became the SBI in 1955, making it the oldest commercial bank in the Indian subcontinent. It is the largest bank in India with a 23% market share, besides a share of 1/4th of the total loan and deposits market. Market capitalization value of SBI is Rs. 250246.11 crores with a current price of Rs. 280.40.

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Summary: Top 10 Companies in India by Market-cap

S. NoCompany NameIndustryLast PriceMarket Cap (In Cr)
1TCSIT/Software company2138.55802466.23
2RelianceRefineries, Oil & Gas1205.7764308.09
3HDFC BankNon-public sector banking2187.75598433.19
4HULConsumer products1829.2395987.42
5InfosysIT/Software company829.85354285.41
6HDFCFinancial company1988.3343110.5
7ITCCigarette, Hotels, Consumer products239.25293918.22
8Kotak Mah. BankPrivate bank1464.75279739.96
9ICICI BankPrivate Bank399.35257904.55
10St Bank of IndiaPublic Sector Bank280.4250246.11

Disclaimer: This data is updated on September 19, 2019. As the stock price changes in the future, the market capitalization will also change. Hence, the list of top 10 companies in India by market capitalization can also change in the future.

Also read: How to Invest in Share Market? A Beginner’s guide