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India’s $100 Billion Club Expands to Eight Corporate Giants

3 weeks ago
thedialog
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India's $100 Billion Club Expands

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The number of Indian corporate groups valued over $100 billion has risen to eight, thanks to a significant rally in domestic equities. In the past year, Bharti Airtel Group, ICICI Bank, and Aditya Birla Group have joined the elite club.

 

New Entrants Elevate Market Value

Sunil Mittal’s Bharti Airtel Group, ICICI Bank, and Kumar Mangalam Birla-led Aditya Birla Group are the latest additions to this prestigious group. These new entrants have significantly contributed to the overall market value of these top conglomerates.

 

Tata Group Leads with $366 Billion

The Tata Group, with a market capitalization of $366 billion, remains at the top of this list. Following closely are Mukesh Ambani’s Reliance Group at $267 billion and Gautam Adani’s Adani Group at $205 billion.

Together, these eight conglomerates now represent nearly 30% of India’s market capitalization, totaling around $1.5 trillion.

 

Notable Market Value Increases

Bharti Airtel Group experienced the highest surge in market value, with a 65% increase in Bharti Airtel’s valuation, bringing it close to $100 billion, and the successful listing of its subsidiary, Bharti Hexacom, in May.

The Adani Group also saw a significant recovery, with a 65% increase in market value, bouncing back from the challenges posed by allegations from Hindenburg Research. Aditya Birla Group marked a 50% jump, solidifying its place in the $100-billion club.

Meanwhile, HDFC Group was the only one to witness a decline in market value. The Nifty 500 index has climbed nearly 35% over the past year, reflecting the broader market’s upward trend.