Top Stock Market Companies

by

Top Companies by Market Cap (Mid-2025 Estimates)

As of February 12, 2025

According to Indian Express, as of February 12, 2025, the top 10 companies by market cap in India were:

  1. Reliance Industries – ₹16.378 trillion

  2. Tata Consultancy Services (TCS) – ₹14.385 trillion

  3. HDFC Bank – ₹13.389 trillion

  4. Bharti Airtel – ₹10.129 trillion

  5. ICICI Bank – ₹8.867 trillion

  6. Infosys – ₹7.874 trillion

  7. State Bank of India (SBI) – ₹6.465 trillion

  8. Hindustan Unilever (HUL) – ₹5.457 trillion

  9. Life Insurance Corporation of India (LIC) – ₹5.137 trillion

  10. ITC Limited – ₹5.024 trillion The Indian Express

As of June 2, 2025

Numbers updated by Indian Express for June 2, 2025 show:

  1. Reliance Industries – ₹19.044 trillion

  2. HDFC Bank – ₹16.459 trillion

  3. TCS – ₹12.449 trillion

  4. Bharti Airtel – ₹11.059 trillion

  5. ICICI Bank – ₹10.438 trillion

  6. SBI – ₹7.291 trillion

  7. Infosys – ₹6.486 trillion

  8. LIC – ₹6.063 trillion

  9. Bajaj Finance – ₹5.654 trillion

  10. Hindustan Unilever – ₹5.566 trillion The Indian Express

As of July 23, 2025

Forbes India provided a snapshot on July 23, 2025 (figures in lakh crore INR):

  1. Reliance Industries – ₹19.24 Lakh Cr (₹19.24 trillion)

  2. HDFC Bank – ₹15.46 Lakh Cr

  3. TCS – ₹11.48 Lakh Cr

  4. Bharti Airtel – ₹10.98 Lakh Cr

  5. ICICI Bank – ₹10.56 Lakh Cr

  6. SBI – ₹7.54 Lakh Cr

  7. Infosys – ₹6.59 Lakh Cr

  8. Bajaj Finance – ₹6.00 Lakh Cr

  9. LIC – ₹5.83 Lakh Cr

  10. Hindustan Unilever – ₹5.76 Lakh Cr Forbes India

Summary Table

Rank Company Approx. Market Cap (₹ trillion) Notes
1 Reliance Industries ~19 Leader across energy, telecom, retail
2 HDFC Bank ~15–16 Top private sector bank
3 TCS ~11–12 Leading IT services firm
4 Bharti Airtel ~11 Telecom major
5 ICICI Bank ~10–10.5 Large private sector bank
6 SBI ~7–7.5 India’s largest public sector bank
7 Infosys ~6.5–7 Major IT services company
8 LIC ~5.8–6 Dominant insurance firm
9 Bajaj Finance / HUL ~5.5–6 (Bajaj Finance); ~5.5 HUL Financial, consumer goods sector
10 Hindustan Unilever (HUL) / ITC ~5.5–5.8 (HUL), ~5 ITC FMCG stalwarts

Additional Context

  • Bharti Airtel surpassed TCS in market capitalization in July 2025, becoming the third-largest Indian company by m-cap. The Times of India

  • Eternal Ltd, the parent company of Zomato/Blinkit, crossed ₹3 Lakh Crore (~₹3 trillion) in m-cap mid-2025, overtaking several Nifty 50 firms such as Wipro, Tata Motors, JSW Steel, etc.—though it still remains smaller than the top giants. The Economic Times

Final Takeaway

As of mid-2025, Reliance Industries clearly holds the top spot in India by market capitalization, followed by HDFC Bank, TCS, Bharti Airtel, and ICICI Bank. The rest of the top 10 features a mix of banks, IT firms, financial services, and FMCG companies. Financial market dynamics ensure that rankings can shift, but these corporates consistently dominate the Indian landscape.

Would you like to look into sector-wise breakdowns (e.g., telecom vs banking) or compare these firms on other metrics like revenue, profit, or returns?

Leave a Comment