Reliance Industries maintains its position as the most valuable company in India, as per the 2023 Hurun Global 500 released on Wednesday. However, on the global stage, no Indian company secured a spot within the top 40.
Reliance Industries ranked 44th with a total valuation of 198 billion dollars, dropping ten places as its net worth decreased by 2% in the past year. Following closely were Tata Consultancy Services at 60th position and HDFC Bank at 68th.
TCS saw a 14% increase in net worth to 158 billion dollars, improving its rank by five spots in 2023.
Globally, the report notes a historic moment as five companies surpassed the 1 trillion dollars valuation mark, including Apple, Microsoft, Alphabet, Amazon, and Nvidia.
Titan Company and Sun Pharmaceutical Industries secured spots in the top 500 rankings, with Titan expanding through the opening of 90 new stores, and Sun Pharma making strategic acquisitions in Israel. However, 48 companies, including Binance and Activision Blizzard, dropped off the list due to decreased valuations.
Notably, three Adani group companies - Adani Transmission, Adani Green Energy, and Adani Total Gas - saw a decline in rankings for India. The country slipped one rank to the sixth position overall, with a total of 18 companies on the list.