Total 11 confidential Indian companies have added it the list 500 most valuable corporations across the globe, our country is ranked 10th on the chart, according to a report. The total value of all 11 companies grew by 12% and has been pegged at $805 billion or nearly a third of the Indian GDP.
All these firms in the list of non-state enterprises have earned in value during 2020, which was hit by the pandemic, barring tobacco major ITC and second-largest private sector lender ICICI bank, as per the HURUN Global 500 report.
Reliance Industries leads among the local enterprises with a 20.5% jump in valuation to $168.8 billion as of December 1 and is ranked 54th globally, as per the list.
Tata consultancy services grew by nearly 30% during the year to take its value to $139 billion, ranking it 73rd globally and making it the second most valuable Indian firm. The value of HDFC bank grew 11.5% to $107.5 billion Hindustan Lever, Infosys, HDFC Ltd and Kotak Mahindra Bank.
ICICI bank’s overall valuation decreased by 0.5% to $45.6 billion, ranking it to 316th spot, while ITC’s value dived 22% to $32.6 billion making it to a 480th rank.
Of the 11 most valuable companies, seven have their headquarters in Delhi followed by on each in Pune, Bengaluru, Kolkata and New Delhi. The report said the local stock market grew 12% despite the pandemic, which can explain the rise in the valuations.
The list of 500 is led by consumer technology major Apple with a value of $2.1 trillion and is followed by Microsoft and Amazon.
From a valuation earned perspective, China led 73% raised by its top companies during the year.