In comparison, billionaire Mukesh Ambani’s Reliance Industries – which houses almost all of his ventures – saw a 13.4 per cent increase in value. 18.87 lakh crore, which helped it maintain the top ranking Burgundy Private Hurun India 500 Ranking,
Tata Consultancy Services ranked second 12.97 lakh crore, followed by HDFC Bank, Infosys and ICICI Bank, despite a 0.9% drop in value.
Axis Bank’s private banking businesses Burgundy Pvt and Hurun India launched the Burgundy Pvt Hurun India 500-Special Report, a list of the 500 Most Valuable Non-State-Owned Companies in India that tracks price changes of the Top 500 . during a period of six months. This list has been tracked from 30 October 2021 to 30 April 2022.
In just six months, Adani Green has jumped from 16th to sixth in the rankings, according to the report. By absolute value, the biggest gainers were Adani Green Energy, Reliance Industries and Adani Total Gas.
Adani Green Energy up 139% ( 2,62,238 crore) and reached a value of 4,50,874 crores. Adani Power registered a growth of 157.8% ( 66,185 crore) and reached a value of 1,08,129. Adani Wilmar rose 189.8% ( 66,427 crore) and reached a value of 1,01,427 during the six month period.
adani total gas increased 1,07,325 and reached a value of 2,69,558; Adani Transmission Extended 1,00,660 and reached a value of 3,06,792. Growth of Adani Enterprises 93,557 and reached a value of 2,65,848.
In addition, the combined value of nine Adani Group companies is 17.6 lakh crore and is 7.6% of the net worth of 500 top companies
“The Adani Group companies increased their value by 88.1% in the period under review, while those by the top 500 companies increased by only 2%,” the report said.
Top 500 companies in India have marginally increased in value by 2% to 232 lakh crore 221 lakh crore by October 30, 2021, it said.
Despite modest growth, companies in the list of non-state-owned companies outperformed the BSE Sensex (down 4%) or Nasdaq (down 17%).
“Indian companies have weathered the storm and outperformed their global peers. This reflects the inherent strength and depth of the Indian economy,” said Anas Rehman Junaid, Managing Director and Chief Researcher, Hurun India.
Among the unlisted companies, the National Stock Exchange led with a jump of 35.6% in its valuation 2.28 lakh crore, while Serum Institute of India had a decline of 4.6% 1.75 lakh crore and Byju’s jumps 24.7% 1.68 lakh crore.
Companies that saw a drop in valuations and a drop in rankings, Patanjali Ayurved, run by yoga exponent Ramdev, saw a 17.9% drop in value. 23,000 crores, and also slipped from 34th place to 184th in the rankings.
The biggest gainer was Vedanta Fashion with a rise in valuation of 313.9%, followed by Adani Wilmar and BillDesk with a rise of 172.9%, it said.
Banking sector rivals ICICI Bank and HDFC Bank displayed a price decline trend with the second largest lender limiting the decline to 3.9 per cent as against a fall of over 15% for HDFC Bank.
The minimum rating to make it to the top-500 ratings list was 5,800 crore or $760 million, and the companies on the list came from 15 states led by Maharashtra. Mumbai alone has 159 companies, followed by 59 in Bengaluru and 38 in Gurugram.
(with PTI inputs)