India's US$ 100 billion corporate groups swell to 8 with 3 new additions

The landscape of Indian corporate conglomerates valued at over US$ 100 billion has expanded to encompass eight entities, with three recent additions driven by a robust upsurge in domestic equities. Among the newcomers are Mr. Sunil Mittal's Bharti Airtel group, the ICICI Bank group, and the Mr. Kumar Mangalam Birla-led Aditya Birla group. Leading the pack is the venerable Tata group, boasting a combined market capitalization of over US$ 366 billion, trailed closely by the Mr. Mukesh Ambani-led Reliance group at US$ 267 billion and Mr. Gautam Adani's Adani group at US$ 205 billion. Collectively, these eight conglomerates command an approximate market value of nearly US$ 1.5 trillion, constituting nearly 30% of India's total market capitalization.

Bharti Airtel has witnessed the most substantial surge in market value, experiencing a remarkable 65% increase in the flagship Bharti Airtel's market value, reaching nearly US$ 100 billion, further augmented by the listing of its subsidiary, Bharti Hexacom, in May. Following suit, the Adani group also experienced a commendable 65% upswing in market value, rebounding from the challenges posed by US-based short seller Hindenburg Research's allegations. Similarly, the Aditya Birla group registered a surge of over 50% in market value, positioning it as the latest entrant to the esteemed US$ 100-billion club. Conversely, the HDFC group stands as the sole entity witnessing a decline in market value amidst these developments.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.