Top 10 Companies In India in 2023 By Market Capitalization

This list represents the top 10 companies in India by market capitalization. You can also say this is a list of companies who contributed significantly to the Indian economy, providing employment and overall growth of the country.

Every Indian are using their products and services directly or indirectly in their day to day life. It is also interesting to know who are founders of these companies, how many years it takes to achieve this height. but before we begin let me explain to you some terms so that you can understand the whole thing properly because this term maybe not familiar to you.

Market capitalization

It’s very simple there is 2 major stock market in India Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), the value of a particular company on the traded-in this stock market is market capitalization.


In case your haven’t clue, it is income of the company after cutting tax and expenses.

Subsidiary company

If Company A has 51% or more % of the share of Company B, In this case, Company  B  is a subsidiary or daughter company of Company A, while company A is the parent company of Company B.

For Example – A limited has more than 51% Shares of B limited. So, B limited is the subsidiary of A Limited.

List Of Top 10 Companies In India:

10. ICICI Bank

icici bank

ICICI Bank comes on Number (10) from our top 10 companies in India list.

ICICI stands for Industrial Credit and Investment Corporation of India, which was started in the year 1994.

In 1998 ICICI set up Internet banking operations. ICICI become the first Indian company and the first bank or a financial institution, Non-Japan Asia to listed on the NYSE (New York Stock Exchange) in the year 1999.

ICICI Bank offers services in the areas of investment banking, all types of insurance, venture capital, and wealth management to the financial corporate and retail customers.

ICICI Bank is among the top five banks in India. The bank covers a wide geographical network with approx 5,275 branches and 15,589 ATMs across India and also a presence in 17 countries.

ICICI Bank also has subsidiaries in the UK and Canada; and had branches in many famous countries like the United States, Singapore, Qatar, Oman, China, Hong Kong, and South Africa.

The market capitalization of ICICI Bank is approx INR 2,27,282.29 crore while the revenue of the bank is approx INR 91,246.94 crore or US$13 billion (2020). As per 2019 data 84,922 number of people working in the ICICI bank.

9. Imperial Tobacco Company (ITC)

ITC (Imperial Tobacco Company)

Imperial Tobacco Company (ITC) comes on Number (9) from our top 10 companies in India list.

Imperial Tobacco Company of India Limited was established in 1910, later in 1970 renamed as the India Tobacco Company Limited, In the year 1974 again renamed as an I.T.C. Limited.

ITC is a pioneer in agri-business and leading player in FMCG, Cigarettes, Paperboard and Packaging Industry, Hotels, and Digital solutions.

Some of the famous brands of ITC are:

  • Vivel
  • Savlon Soap & Handwash
  • Superia
  • Engage
  • Classmate Notebooks
  • Sunfeast Wonderz Milk
  • Aashirvaad
  • Sunrise Foods
  • Bingo
  • Yippee
  • B- natural
  • Gold Flake Kings
  • Gold Flake Premium lights
  • Gold Flake Super Star
  • Insignia
  • India Kings, and many more owned by ITC.

Major Subsidiaries of ITC

  • BFIL Finance Ltd
  • Technico Pty Limited
  • Technico Agri Sciences Ltd
  • Welcome Heritage
  • ITC Foods Limited
  • Srinivasa Resorts Limited
  • Bay Islands Hotels Ltd.
  • Maharaja Heritage Resorts Limited
  • ITC Infotech and many more.

ITC’s market capitalization is approx INR 241,980.59 crore and a gross sales value of US$ 10.74 billion (as on March 2020). As per the data of 2019, 27,279 employees are working for ITC.

8. Kotak Mahindra Bank

Kotak Mahindra Bank

Kotak Mahindra Bank comes on Number (8) from our top 10 companies in India list.

Kotak Mahindra Bank is one of the leading banks in the Indian private sector Banks. It was founded by Uday Kotak in February 2003.

Kotak Mahindra Bank is a subsidiary company of the Kotak Group. As of April 2019, It is the second-largest private bank after HDFC Bank in India by market capitalization with over 1600 branches & 2519 ATMs.

The headquarter of the Kotak Mahindra Bank is located at Mumbai, Maharashtra, India.

Kotak Mahindra Bank offers Personal Finance, Banking Products, Investment Banking, Assets Management, Life Insurance, and other financial services to the corporate and retail customers.

Kotak Mahindra Bank acquired ING Vysya Bank in 2015 at approx 2.1 Billion USD. The market capitalization of Kotak Mahindra Bank is approx INR 2,74,944.97 crore, and the revenue of the bank is INR 33,665 crore (US$4.7 billion)(2020).

7. Bharti Airtel Limited

Bharti Airtel Limited

Bharti Airtel Limited comes on Number (7) from our top 10 companies in India list.

Airtel is a very well known name as a telecom service provider, the actual name of the company is Bharti Airtel Limited.

Bharti Airtel is the leading telecommunication provider in 18 countries. Its also among the top 3 service providers in terms of subscribers all over the world.

Bharti Airtel offers their users telecommunication and digital platforms include 2G, 3G, and 4G wireless services, fixed-line services, high-speed home broadband, DTH, enterprise services including national & international long distance services to carriers.

If we talk about users, Airtel has approx 423 million customers till March 2020, which includes 2.4 million homes, 283.7 million mobile services, and 16.6 million DTH in India and in South Asia 2.9 million mobile services customers.

The Market capitalization of Bharti Airtel Limited is approx INR 3,08,975.49 crore.

6. Housing Development Finance Corporation Limited (HDFC Limited)

HDFC Limited

Housing Development Finance Corporation Limited (HDFC Limited) comes on Number (6) from our top 10 companies in India list.

HDFC Limited is an India based Financial services Provider who was incorporated in the year 1977 as the first specialized Mortgage Company in India.

The primary business of the company is to provide finance to individuals as well as corporate and developers for the purchase, construction development, and repair of houses, apartments, and commercial property.

HDFC Limited also provides some other services like deposits and mutual funds. HDFC Limited major subsidiary companies are:

  • GRUH Finance
  • HDFC Credila Financial Services Private Limited
  • HDFC Standard Life Insurance Company Limited
  • HDFC Venture Capital Limited
  • HDFC ERGO General Insurance Company Limited
  • HDFC Asset Management Company Limited
  • HDFC holds 26.14% of shares in HDFC Bank.

Housing Development Finance Corporation Limited (HDFC Limited) market capitalization is approx INR 3,26,019.73 crore.

5. Infosys


Infosys comes on Number (5) from our top 10 companies in India list.

Infosys is the 2nd largest and very well known IT company in India. It was registered as Infosys Consultants Private Limited.

It was founded by seven members, Narayana Murthy, S.D. Shibulal, N.S.Raghavan, Nandan Nilekani, S.Gopalakrishnan, K.Dinesh, Ashok Arora in the year 1981.

After that, it was renamed as an Infosys Technologies Private Limited in 1992, then again in 2011; it became Infosys Limited. Infosys ranked 3rd as the most regarded company by Forbes in the year 2019.

Infosys company is providing consultancy services globally not only that it’s also offers engineering and digital marketing related service, Next Generation Integrated AI Platform, Analytics platform, a global banking platform and Finacle, Panaya Cloud Suite.

Infosys has 82 sales and marketing offices and 123 development centers across the world (data of 2018) and presence in many countries such as China, Japan, United States, Australia, Middle East, and Europe.

In the year 2020, The market capitalization of Infosys is approx INR 406,272.99 crore, and revenue is around INR 90,791.00 crore. As of now, 2,42,371 employees working in Infosys.

4. Hindustan Unilever Limited (HUL)

Hindustan Unilever Limited

Hindustan Unilever Limited (HUL) comes on Number (4) from our top 10 companies in India list.

HUL is from one of India’s foremost private sector companies.

Unilever (British-Dutch multinational company) is the parent company of Hindustan Unilever Limited(HUL).

It was established as a Lever Brothers India Limited in the year 1933. In the year 2014, HUL ranked the most innovative company in globally by Forbes.

The Company’s primary business is fast-moving consumer goods (FMCG). There is 4 Major segment in which HUL market leader, such as:

  • Beauty and Personal Care Category
  • Homecare Related Products
  • Foods and Refreshments
  • Beverages include tea and coffee and water purifier.

Nine out of ten Indian households use the products of HUL some of the most famous brands of HUL are:

  • Pureit
  • Dove
  • Lifebuoy
  • Knorr
  • Lux
  • Pepsodent
  • Rin
  • Horlicks
  • Vim
  • Surf Excel
  • Active Wheel and many others.

HUL had 61 Product Brands across many categories. (As of 2019) The market capitalization of HUL is approx INR 5,24,689.77 crore.

3. HDFC Bank Limited

HDFC Bank Limited

HDFC Bank Limited comes on Number (3) from our top 10 companies in India list.

In the year 1991 India Adopted policy of liberalization, RBI grant permission for the Private Banks. HDFC Bank is 1st bank that approved by the RBI in 1994.

HDFC was started as the Housing Development Finance Corporation. The shares of the HDFC bank are listed on both the stock exchange of India (BSE and NSE). The Bank’s distribution network is around 5,314 branches in 2,768 cities.

In the year 2008, HDFC Bank amalgamated with Centurion Bank of Punjab. After amalgamation CBoP shareholders received Share of HDFC bank in 29:1 proportion.

After the merger, they hold a deposit of around INR 1,22,000 crore and net advances of around Rs. 89,000 crore. Due to this amalgamation value, customer base, geography reach of the banks increase significantly.

HDFC Bank provides commercial and transactional banking services and treasury products, to its customers. HDFC has two digital products names Payzapp and SmartBUY.

The market capitalization of the HDFC Bank is more than 100 billion USD, while the revenue is INR 584,824.47 crore. HDFC Bank has 1,04,154 permanent employees. (June 2019)

HDFC Securities (HSL) and HDB Financial Services (HDBFSL) are majors subsidiaries of HDFC Bank.

2. Tata Consultancy Services (TCS)

Tata Consultancy Services

Tata Consultancy Services (TCS) comes on Number (2) from our top 10 companies in India list.

Tata Consultancy Services Limited well-known as TCS is a subsidiary company of Tata Group.

TCS started by the Tata Sons Private Limited in the year of 1968 as “Tata Computer Systems“. When it comes to IT services TCS is the no.1 choice, not only for corporates but also for the Indian Government as well.

TCS is operating from 285 offices in 149 locations across 46 countries. TCS and its 67 subsidiaries offer a wide range of Information Technology related products and services such as:

  • Application Development
  • Capacity Planning
  • Consulting,
  • Outsourcing Services
  • Enterprise Software
  • Payment Processing
  • Software Management
  • Technology Education Services and many more.

TCS is one of the largest employers in India. As per 2019, TCS has a total of 4,46,675 employees out of which 36.2% are women.

The revenue of Tata Consultancy Services (TCS) is INR 161,541.00 crore while the market capitalization is INR 8,53,686.28 crore. This makes Tata Consultancy Services the 2nd largest company in India and the number 1 IT company in India.

1. Reliance Industries Limited (RIL)

Reliance Industries Limited

Reliance Industries Limited (RIL) comes on Number (1) from our top 10 companies in India list.

Reliance Textiles Engineers Private Limited was founded by Dhirubhai Ambani in 1966 as a polyester firm which got renamed as a Reliance Industries Limited in the year of 1973.

Presently, the number of shares of RIL is approx. 310 crore (3.1 billion) out of which Mukesh Ambani (Chairman, Managing Director, and largest shareholder of Reliance) holds 47.35% stakes in RIL, which makes him the richest man in the India and 5th richest person of the world (according to Forbes).

Reliance Industries Limited (RIL) became the first Indian company to be listed in the Fortune 500 companies list (globally) in 2004, at present, it is ranked 106th on this list.

Reliance Industries Limited (RIL) owns business mainly in:

  • Energy
  • Petrochemicals
  • Textiles
  • Natural resources
  • Retail
  • Telecommunications Sector and in near future Digital Services and Digital Products.

RIL is a Multinational (Multi-Industry) Company. Some of the major subsidiary companies under Reliance Industries Limited are:

  • Jio Platforms
  • Jio Payments Bank
  • Reliance Retail
  • Reliance Petroleum
  • Network18 Group
  • Football Sports Development Limited
  • JIoSaavn
  • Reliance Life Sciences
  • Jio Cable and Broadband Holdings Private Limited
  • Alok Industries and many more companies.

In the month of June 2020, RIL became the first Indian company ever to exceed 150 Billion USD in market capitalization.

With the capitalization of approx INR 13,97,639.50 crore on the BSE(Bombay stock exchange). Currently approx 1,95,618 employees work for Reliance Industries.

In India, Reliance is the highest income tax payer among private sectors. RIL is the largest exporter in India, around 8% of India’s total merchandise exports to markets in 108 countries.

Almost 5% of the Government of India’s total revenues from customs and excise duty comes from Reliance Industries only.

At present, Reliance Industries Limited is India’s largest private sector company on all major financial parameters.



My name is Jack, I am an enthusiast writer from my childhood, and I am currently working as a writer and reviewer of articles on the website. I am passionate about my work, and I love to write articles on different topics, mainly top 10 lists based articles on different topics.

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6 Responses

  1. thanks for proper info.

  2. Ashik tk Ashik tk says:

    this is most importan info. i loved the article.????

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