The number of companies with a market capitalization over Rs 1 trillion has increased to 80 during the most recent fiscal year, mostly due to the ongoing momentum in the stock markets.
Comparing this number to FY23, when there were 48 companies with a market capitalization of more over Rs 1 trillion, is obvious. This figure didn’t change between FY22 and FY23 because the market was essentially stable, albeit with sporadic spikes in volatility. The count was 36 in FY21, a significant increase from the 19 in FY20, when the market was severely damaged by the Covid issues.
Zydus Lifesciences, Tata Consumer Products, TVS Motor Co., Canara Bank, Indian Overseas Bank, Union Bank of India, and numerous more mid-to-small businesses joined the Rs 1 trillion mcap club in FY24.
With a market valuation of Rs 20.15 trillion, billionaire Mukesh Ambani’s Reliance Industries was the most valuable firm. Tata Consultancy Services was next, valued at Rs 14.05 trillion, HDFC Bank at Rs 11 trillion, ICICI Bank at Rs 7.7 trillion, and Bharti Airtel at Rs 7.44 trillion.
In the event that the market rise continues in 2024, at least ten more corporations will be able to join the elite group. These include the following: Shree Cement at Rs 92,741 crore, Dabur India at Rs 92,704 crore, Bajaj Holdings & Investment at Rs 92,260 crore, Mankind Pharma at Rs 92,030 crore, Havells India at Rs 94,934 crore, Hero MotoCorp at Rs 94,307 crore, and Cholamandalam Investment and Finance at Rs 97,151 crore.