Market cap of top 10 stocks equals 37% of India's GDP: Report

NEW DELHI: The market capitalisation of the top 10 companies is equal to 37% of India's GDP, shows Burgundy Private Hurun India 500 report released on Thursday.

"The total value of the top 10 companies remained flat at Rs 72.0 lakh crore ($872 billion), equivalent to 37% of India’s GDP and 31% of the total value of the 2022 Burgundy Private Hurun India 500," the report said.

With a market cap of Rs 17.25 lakh crore, Mukesh Ambani-led Reliance Industries is India's most valued company, followed by TCS, HDFC Bank, Infosys and ICICI Bank.

The top-10 club also includes Bharti Airtel, HDFC, ITC, Adani Total Gas and Adani Enterprises.

The total value of the top ten most valuable Indian enterprises has increased 262% in the past decade, the report said, adding that 8 companies have made it to the top 10 over the past decade. Notable exits from the exclusive club include Sun Pharmaceuticals and Wipro.

"309 companies in the list saw their value increase in the last year, of which 18 doubled in value. 6 companies rose by Rs 1 lakh crore, led by four Adani group companies," the report said.

The biggest gainers in terms of absolute value are Adani Group companies - Adani Total Gas is up Rs 2.3 lakh crore, followed by Adani Enterprises, up Rs 2.1 lakh crore, Adani Transmission, up Rs 1.7 lakh crore and Adani Green Energy, up Rs 1.4 lakh crore.

"The 2022 Burgundy Private Hurun India 500 lost Rs 1,78,965 crore in value. The sectors that enjoyed strong growth are Energy, Retail, Hospitality and Consumer Goods. Software and Services sector was the hardest hit and cumulatively lost Rs 6 lakh crore over last year," Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said.

In terms of growth, the 2022 Burgundy Private Hurun India 500 was led by Kolkata-based Vedant Fashions, followed by Adani Power and BillDesk.

By absolute value, the biggest gainers were Adani Total Gas, Adani Enterprises and Adani Transmission.
Four unicorns listed on exchanges had a tough year as they cumulatively lost Rs 2 lakh crore.