Last Updated on Nov 20, 2025 by Durga Mishra
There are various factors that define a company’s financial and market position, such as revenue, assets, profitability score, red flags, and more. One such factor is market capitalisation. It is a measurement of the market value of the company. This article explores India’s top 10 largest companies by market cap, providing insights into their businesses and what makes them stand out.
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List of Top 10 Largest Companies by Market Cap in India
Here is the list of the top 10 highest market cap companies as of 6th October 2025, along with their PE ratio, 5Y CAGR, sub-sector, and more.
| Name | Sub-Sector | Market Cap(₹ cr) | PE Ratio | Return on Equity(%) | PB Ratio | 5Y CAGR(%) |
| Reliance Industries Ltd | Oil & Gas – Refining & Marketing | 1845017.32 | 26.49 | 7.20 | 1.83 | 6.18 |
| HDFC Bank Ltd | Private Banks | 1482825.72 | 20.95 | 14.05 | 2.76 | 11.76 |
| Bharti Airtel Ltd | Telecom Services | 1136999.85 | 33.88 | 25.91 | 7.41 | 34.91 |
| Tata Consultancy Services Ltd | IT Services & Consulting | 1049932.82 | 21.62 | 51.90 | 10.96 | 2.83 |
| ICICI Bank Ltd | Private Banks | 974809.53 | 19.10 | 17.04 | 2.97 | 29.89 |
| State Bank of India | Public Banks | 800571.46 | 10.32 | 16.58 | 1.59 | 35.44 |
| Bajaj Finance Ltd | Consumer Finance | 615682.33 | 37.00 | 18.95 | 6.22 | 23.52 |
| Infosys Ltd | IT Services & Consulting | 599659.52 | 22.45 | 28.93 | 6.23 | 7.29 |
| Hindustan Unilever Ltd | FMCG – Household Products | 597947.48 | 56.15 | 21.08 | 12.05 | 3.97 |
| Life Insurance Corporation Of India | Insurance | 572570.42 | 11.85 | 45.93 | 4.49 | _ |
Note: The data on the list of big market cap companies is taken from Tickertape Stock Screener. The stocks are listed based on the market cap (from high to low) as of 6th October 2025.
Overview of the Largest Companies by Market Cap
Reliance Industries Ltd (RIL)
Founded in 1966 by Dhirubhai Ambani, Reliance Industries Ltd is India’s largest conglomerate with businesses across energy, petrochemicals, retail, telecom, and digital services. Its telecom arm, Jio, transformed India’s digital landscape, while Reliance Retail is one of the country’s biggest retail networks, and as of 6th October 2025, it holds the biggest market capitalisation in India.
HDFC Bank Ltd
Established in 1994, HDFC Bank is one of India’s leading private sector banks. It offers a wide range of services, including retail banking, loans, credit cards, and digital banking. Known for its strong balance sheet and technology-driven services, it consistently ranks among the most valuable banks in India.
Bharti Airtel Ltd
Founded in 1995 by Sunil Bharti Mittal, Bharti Airtel is one of India’s largest telecommunications companies. It provides mobile, broadband, and digital TV services across India and several international markets. The company has been a key driver of India’s digital growth and continues to invest in 5G and fibre networks.
Tata Consultancy Services Ltd (TCS)
Established in 1968, TCS is a part of the Tata Group and one of the world’s largest IT services and consulting firms. Headquartered in Mumbai, it provides software solutions, digital transformation, and cloud services to clients in over 45 countries. TCS is known for its consistent growth, strong global presence, and industry-leading margins.
ICICI Bank Ltd
Formed in 1994, ICICI Bank is a major private sector bank in India. It offers retail, corporate, and investment banking services and has a strong presence in digital financial products. The bank is known for innovation in technology-driven services and a diversified loan portfolio.
State Bank of India (SBI)
Founded in 1955, State Bank of India is the country’s largest public sector bank. It provides banking, loans, insurance, and investment services through a vast network of branches and digital platforms. SBI plays a key role in supporting financial inclusion and the Indian economy’s credit needs.
Bajaj Finance Ltd
Established in 1987, Bajaj Finance Ltd is one of India’s top non-banking financial companies (NBFCs). It offers consumer loans, business loans, and investment products. The company is known for its strong retail presence, innovative loan products, and efficient risk management practices.
Infosys Ltd
Founded in 1981 by N.R. Narayana Murthy and six engineers, Infosys is a global leader in IT services, consulting, and digital transformation. Headquartered in Bengaluru, it operates in over 50 countries and is known for its innovation, strong governance, and focus on sustainability.
Hindustan Unilever Ltd (HUL)
Formed in 1933, Hindustan Unilever is India’s largest fast-moving consumer goods (FMCG) company. It produces everyday household and personal care brands like Dove, Surf Excel, and Horlicks. HUL is part of the global Unilever Group and is known for its deep distribution network and focus on sustainable business practices.
Life Insurance Corporation of India (LIC)
Founded in 1956, LIC is India’s largest and oldest life insurance company, owned by the Government of India. It offers life insurance, pension, and investment products and has one of the widest distribution networks in the country. LIC continues to hold a dominant share in India’s life insurance market.
Understanding Market Capitalisation
The market cap is the market value of a publicly traded company’s outstanding shares. It is calculated by multiplying the number of outstanding shares by the current market value of one share.
Market Cap = Outstanding shares x Share price
It is imperative to remember that market capitalisation is dynamic and changes by the second. It has a direct correlation with the traded price of the stock. While the number of outstanding shares in the formula for market capitalisation may not change unless the company decides to issue more shares, the stock price component is extremely volatile.
There are three types of market capitalisation – large-cap, mid-cap and small-cap companies. SEBI has defined the levels determining a company according to its market cap.
- Large-cap companies: Having a market cap of Rs. 20,000 cr. or more
- Mid-cap companies: These have a market cap between Rs. 5,000 cr. to Rs. 20,000 cr.
- Small-cap companies: These have a market cap of less than Rs. 5,000 cr.
Benefits of Investing in Highest Market Cap Companies
- Business Stability: Companies with the highest market capitalisation are usually industry leaders with strong financials, steady cash flows, and diversified revenue streams. Their scale allows them to manage downturns, invest in R&D, and sustain long-term operations effectively.
- Strong Corporate Governance and Transparency: Highest market cap companies are closely monitored by regulators, analysts, and large investors. They publish detailed quarterly reports, undergo external audits, and disclose major business decisions. This level of transparency builds trust and allows investors to track performance easily.
- Strong Brand Value: These companies often lead their industries with well-known brands, loyal customers, and strong distribution networks. Their brand reputation helps them maintain pricing power, attract top talent, and stay profitable even when the economy slows down.
Risks of Investing in the Largest Companies by Market Cap in India
- Valuation Risk:Because of their popularity, large-cap stocks often trade at high valuations. If future earnings don’t match expectations, their share prices can decline even if the company remains profitable.
- Dependence on the Overall Economy: Big companies rely on consumer demand and economic growth. If the economy slows down, people spend less, and corporate profits fall, which directly affects their performance.
- Heavy institutional ownership: Mutual funds and foreign investors own a large portion of these companies. When these big investors buy or sell in bulk, the stock price may move sharply, even without any major news about the company.
Factors to Consider Before Investing in Largest Market Cap Companies
- Valuation levels: Stocks of companies with large market caps can trade at premium prices due to high investor demand. When valuations stretch beyond earnings potential, returns may moderate.
- Growth outlook: Even established companies need new products, global expansion, or digital transformation to sustain growth. The ability to adapt determines whether their leadership position remains strong.
- Global Exposure: Several Indian firms with the highest market capitalisation operate across multiple countries. While this diversification offers stability, it also exposes them to currency and geopolitical risks.
Conclusion
Market capitalisation is directly proportional to a stock’s share price and changes with the traded price of its shares. However, market capitalisation is not the only factor to identify the largest companies by market cap or assess the highest market cap companies in India. Other factors, such as revenue growth, profit margins, debt levels, and overall financial stability, also play an important role in understanding a company’s true value.
Investors should always consider their investment goals and risk appetite before investing in the highest market cap companies. It’s equally important to study a company’s past performance, management quality, and future growth plans carefully before investing.
Frequently Asked Questions on the Largest Companies By Market Cap
1. What are the largest companies by market cap?
Market capitalisation is calculated by multiplying the company’s share price by the total number of shares issued. So, the largest companies by market cap are those with the highest total market value of their outstanding shares.
2. How to find the highest market cap companies?
Investors can find the top companies by market capitalisation using tools like the Tickertape Stock Screener. The platform helps users explore and compare the largest companies by market cap based on key factors like revenue, profits, and valuation. It offers over 200 filters to make analysis easier and more accurate.
3. How to track the top 100 companies by market cap?
Investors can track the top 100 companies by market cap through stock indices like the Nifty 100 or BSE 100, which include India’s most valuable companies. Tools like the Tickertape Stock Screener also make it easy to monitor these companies with live updates, charts, and filters to analyse their performance across different sectors.
4. What are the top stocks by market cap in India?
As of 6th October 2025, the top stocks by market cap in India include:
- Reliance Industries Ltd
- HDFC Bank Ltd
- ICICI Bank Ltd
- Tata Consultancy Services Ltd
- Infosys Ltd
- State Bank of India
Disclaimer: Please note that the above list is for educational purposes only, and is not recommendatory.
5. Are top top companies by market capitalisation good for investment?
The highest market cap companies in India are well-established businesses with a strong presence in their industries. Whether they are a good investment or not depends on various factors such as the company’s financial performance, growth outlook, management quality, market conditions, and the investor’s financial goals and risk tolerance.
As an insatiable reader and learner, I’ve spent the last two years exploring the world of finance. With my creative mind and curious spirit, I love making complex finance topics easy and fun for everyone to understand. Join me on my journey as we navigate the world of finance together!
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