MUMBAI: Total 11 private Indian firms have made it to the list of 500 most valuable companies across the world, and the country is ranked 10th on the chart, as per a report.
The total value of these 11 companies grew 14 per cent and has been pegged at $805 billion or nearly a third of the Indian GDP.
All these companies in the list of non-state enterprises have gained 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.
Mukesh Ambani-led Reliance Industries leads among the local enterprises with a 20.5 per cent jump in valuation to $168.8 billion as of December 1 and is ranked 54th globally, as per the list.
Tata Consultancy Services’ value grew by nearly 30 per cent 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 per cent to $107.5 billion Hindustan Lever ($68.2 billion, gains of 3.3 per cent), Infosys ($66 billion and gains of 56.6 per cent), HDFC Ltd ($56.4 billion, gains of 2.1 per cent) and Kotak Mahindra Bank ($50.6 billion, 16.8 per cent in gains).
ICICI Bank’s overall valuation decreased 0.5 per cent to $45.6 billion, taking it to the 316th spot in overall rankings, while ITC’s value dived 22 per cent to $32.6 billion making it the 480th in the list of 500.
The report said 239 of the non-India headquartered companies have a presence in the country, with a maximum number of them having regional offices in the financial capital.
Of the 11 most valuable companies, seven have their headquarters in the financial capital, followed by one each in Pune, Bengaluru, Kolkata and New Delhi, it said.
The report said the local stock market grew 12 per cent despite the pandemic, which can explain the rise in the valuations.
The list of 500 is led by consumer technology major Apple with a valuation of $2.1 trillion and is followed by Microsoft and Amazon at $1.6 trillion.
The US accounted for nearly half of the enterprises with 242 of the 500 entries, followed by China at 51 and Japan at 30 companies.
From a valuation gains perspective, China led with a 73 per cent increase by its top companies during the year.
Among the state-owned or managed enterprises, largest lender SBI was the only entrant in the list of 45, with its $33 billion valuation ensuring it gets the last rank, as per the report.