List of the Top 10 Companies in India by Market Capitalization (Updated): According to the 2021 data published by the International Monetary Fund (IMF), India is the sixth-largest economy in the world in terms of nominal Gross Domestic Product (GDP), which is valued to be worth US$ 3.04 trillion and estimated to a gdp growth rate of 9.5% in the upcoming year. This is in complimentary with the various Indian companies that have been doing business in India and overseas. 

Every company operating in India works extremely hard to get better in terms of the product/services quality and customer satisfaction that they provide. An organization is generally evaluated on different parameters such as assets, revenue, 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.

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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 into different types like large-cap, mid-cap, and small-cap companies. The companies with a market cap of Rs 28,500 crore or more are large-cap stocks. Company stocks with a market cap between Rs 8,500 crore and 28,500 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.)

Let’s understand with an example 

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 7,063
  2. MRF – Rs 85,541

Which company is bigger?

If you just look at the share prices, you might think that MRF’s 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 MRF. Maruti Suzuki has around 30.6 Crore shares while MRF has 0.43 crores shares.

Therefore, the market capitalization of Maruti Suzuki is Rs 216,141 Crores while the market capitalization of MRF is Rs 36,825 Crores. Therefore, Maruti Suzuki is a bigger company compared to MRF.

Top 10 Companies in India by Market Capitalization

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

1. Reliance Industries

Reliance Industries Limited Office | Top 10 Companies in India

Reliance Industries Limited (RIL) is an Indian multinational company headquartered in Mumbai, currently headed by Mukesh Ambani. 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. 13,76,351 Crores with a current price of Rs. 2,035.45.

2. 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 biggest IT company in India and the second-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. 11,71,674 Crores with a current price of Rs. 3,167.50.

3. HDFC Bank

HDFC Bank Office | Top 10 Companies in India

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. It is the largest private bank in India.

As of  March 2020, it had a base of 1,16,971 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. 7,88,769 Crores with a current price of Rs. 1,425.80.

4. Infosys

Infosys building

Infosys Limited is an Indian multinational corporation that provides business consulting, information technology, and outsourcing services and was originally founded in 1981.

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. 6,82,678 Crores with a current price of Rs. 1,610.25.

5. Hindustan Unilever (HUL)

Hindustan Unilever Office | Top 10 Companies in India


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 2020 Hindustan Unilever’s portfolio had 35 product brands in 20 categories with 18,000 employees and sales of Rs. 47,029 crores in 2020-21. The market capitalization value of Hindustan Unilever is Rs. 5,48,405 Crores with a current price of Rs. 2,334.05.

6. ICICI Bank

ICICI bank Office | Top 10 Companies in India

ICICI Bank 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 5,275 branches and 15,589 ATMs across India and has a presence in 17 countries including India as of February 2020. The market capitalization value of ICICI bank is Rs. 4,72,849 crores with a current price of Rs. 682.70.

7. Housing Development Finance Corporation Limited (HDFC)

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. 4,40,739 Crores with a current price of Rs. 2,440.75.

8. State Bank of India (SBI)

State Bank of India Office | Top 10 Companies in India

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body headquartered in Mumbai, Maharashtra. SBI has a 23% market share by assets and a 25% share of the total loan and deposits market.

SBI has 22,141 branches and 58,555 ATMs as of 2020. The current market capitalization value of the State Bank of India is Rs. 3,85,275 crores with the latest share price of Rs. 431.70.

9. Bajaj Finance

Bajaj Finance Office

Bajaj Finance Limited, a subsidiary of Bajaj Finserv, is an Indian non-banking financial company (NBFC). The company deals in consumer finance, SME (small and medium-sized enterprises) and commercial lending, and wealth management.

Headquartered in Pune, Maharashtra, the company has 294 consumer branches and 497 rural locations with over 33,000+ distribution points. Market capitalization value of Bajaj Finance is Rs. 3,75,972 crores with a current price of Rs. 6,228.90.

10. 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 third-largest Indian private sector bank by market capitalization value of Rs. 3,28,122 crores with a current price of Rs. 1,654.90.

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Summary: Top 10 Companies in India by Market-cap

Here is the list of companies with the largest market cap in India with a few other popular companies:

CompanyIndustry Market Cap (RS CR)Current Price (RS)1Yr Returns(%)
Reliance Industries Ltd.Refineries13,76,351.732,035.40-1.54
Tata Consultancy Services Ltd.IT - Software11,71,674.523,167.5038.84
HDFC Bank Ltd.Bank - Private7,88,769.581,425.8038.11
Infosys Ltd.IT - Software6,82,678.651,610.2566.72
Hindustan Unilever Ltd.Household & Personal Products5,48,405.782,334.055.58
ICICI Bank Ltd.Bank - Private4,72,849.46682.796.8
Housing Development Finance Corporation Ltd.Finance - Housing4,40,739.222,440.7536.99
State Bank Of IndiaBank - Public3,85,275.48431.7125.54
Bajaj Finance Ltd.Finance - NBFC3,75,972.886,228.9091.56
Kotak Mahindra Bank Ltd.Bank - Private3,28,122.811,654.9521.16
Wipro Ltd.IT - Software3,21,412.43586.6108.99
Bharti Airtel Ltd.Telecommunication - Service Provider3,08,597.01561.91.23
Asian Paints Ltd.Paints2,83,783.462,958.5572.45
HCL Technologies Ltd.IT - Software2,78,272.791,025.4545.34
ITC Ltd.Cigarettes-Tobacco2,52,348.032055.56
Avenue Supermarts Ltd.Retailing2,26,756.773,500.5569.66
Bajaj Finserv Ltd.Finance - Investment2,26,314.1314,221.30129.17
Larsen & Toubro Ltd.Engineering - Construction2,24,941.611,601.4075.32
Ultratech Cement Ltd.Cement & Construction Materials2,20,064.037,623.7585.05
Axis Bank Ltd.Bank - Private2,17,342.9970964.23

Disclaimer: This data is updated in July 2021. As the stock price changes in the future, 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!

That’s all for this post on the top 10 companies in India by Market Capitalization. I hope it was useful for you. Take care and Happy Investing.