Reliance Industries continues to be the most valuable company in India, according to the 2023 Hurun Global 500, a list of the 500 most valuable non-state-controlled companies in the world, released on Wednesday.
However, globally, no Indian company featured in the top 40 ranks. Reliance Industries stood on the 44th spot with a total valuation of $198 billion. The report highlighted that Reliance, which was the most valuable Indian company last year too, fell ten spots in the rankings as its net worth decreased by 2 per cent in the year.
Reliance Industries was followed by Tata Consultancy Services (60) and HDFC Bank (68). The net worth of TCS rose by 14 per cent to $158 billion during the year. Its rank improved by five spots in 2023.
"Following its merger with sister company mortgage provider HDFC, India-based HDFC Bank advanced 43 positions to 68th place," it said.
This story is from the February 01, 2024 edition of The Business Guardian.
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This story is from the February 01, 2024 edition of The Business Guardian.
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