Reliance Industries India's most valuable pvt company; Adani Group companies shed value by 52 percent: Hurun India 500 list

It is followed by Tata Consultancy Services (TCS) with a value of Rs 11.8 lakh crore and HDFC Bank with a value of Rs 9.4 lakh crore.

However, Reliance experienced a decrease in value of 5.1 percent, amounting to Rs 87,731 crore, over the last six months.

On the other hand, TCS witnessed a slight increase of 0.7 percent, while HDFC Bank saw a significant increase of 12.9 percent.

Notably, Reliance also holds the title of being the highest taxpayer, having paid out Rs 16,297 crore, and the most profitable company, with a bottomline of Rs 67,845 crore in the fiscal year 2022-23.

Serum Institute of India, owned by Adar Poonawalla, has emerged as the top unlisted company in India with a valuation of Rs 1.92 lakh crore.

The vaccine manufacturer surpassed the National Stock Exchange, which now holds the second position with a value of Rs 1.65 lakh crore.

Byju's secured the third spot with a value of Rs 69,100 crore.

HDFC Bank, ITC, and Housing Development Finance Corporation recorded the highest absolute value gains.

In contrast, the valuation of Adani Group's eight companies decreased by more than half over the six-month period ending in April 2023.

This was a bigger decline than the 6 percent drop observed among the top 500 non-government companies.

Adani Total Gas witnessed a 73.8 percent loss in value, Adani Transmission saw a decline of 69.2 percent, and Adani Green Energy was down by 54.7 percent, as stated in the report.

"The eight companies in the Adani Group have a combined value of Rs 9.5 lakh crore and constitute 4.5 percent of the total value of 500 top companies. The Adani Group companies in the review period decreased their value by 52 percent or Rs 10.25 lakh crore against a decline of just 6 percent by the top 500 companies," the report said.

The combined value of the top 10 companies remained steady at Rs 71.5 lakh crore, which is approximately 37 percent of India's GDP and 31 percent of the total value of the 2022 Burgundy Private Hurun India 500.

The list, compiled by Burgundy Private, Axis Bank's Private Banking Business, and Hurun India, tracks the changes in the valuation of the top 500 Indian companies over a six-month period from October 30, 2022, to April 30, 2023, as stated in a statement.