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Reliance Emerges as Most Valuable Private Company in India; Adani Group’s Combined Value Falls by 52%

The recently released Hurun India’s ‘2022 Burgundy Private Hurun India 500’ list highlights the changes in the valuation of India’s top 500 companies. According to the report, Reliance Industries Limited, led by Mukesh Ambani, has claimed the title of the most valuable private sector company in India. Meanwhile, the Adani Group has witnessed a significant decline in its combined value. Let’s delve into the details and explore the key findings of the report.

Reliance Industries Tops the List:

In the latest Hurun India rankings, Reliance Industries Limited has emerged as India’s most valuable company among the top 500. With a valuation of Rs 16.3 lakh crore, Reliance Industries has surpassed other industry giants. This showcases the consistent growth and strong market position of the company led by Mukesh Ambani.

Adani Group’s Value Plummets:

In stark contrast, the Adani Group faced a substantial decline in the combined value of its companies. Triggered by a scathing Hindenburg report, eight companies within the Adani Group experienced a staggering 52% decrease in their value. This amounts to a loss of Rs 10,25,955 crore, while the top 500 companies only witnessed a 6% decline during the same period.

Reliance Industries’ Performance:

Although Reliance Industries faced a marginal decrease of 5.1% or Rs 87,731 crore in value, it remained resilient amid challenging market conditions. This highlights the company’s ability to navigate economic fluctuations and sustain its position as India’s most valuable private sector entity.

Other Top Companies:

Tata Consultancy Services (TCS) secured the second spot on the list with a valuation of Rs 11.8 lakh crore. HDFC Bank followed closely behind, occupying the third position with a valuation of Rs 9.4 lakh crore. These companies demonstrated relative stability and showcased their significance within India’s corporate landscape.

The Adani Group’s Challenges:

The Hindenburg report adversely impacted the Adani Group’s standing in the rankings. Adani Enterprises and Adani Total Gas dropped out of the top 10 during the review period. Adani Total Gas witnessed a massive 73.8% decrease in value, amounting to Rs 2,92,511 crore, reaching a valuation of Rs 1,03,734 crore by April 30. Adani Transmission and Adani Green Energy also experienced significant declines of 69.2% (Rs 2,58,493 crore) and 54.7% (Rs 1,82,306 crore) respectively.

Implications and Market Performance:

The overall value of the top 500 companies in India decreased marginally by 6.4% from Rs 227 lakh crore to Rs 212 lakh crore during the evaluated period. This decline can be attributed to global inflationary pressures and the impact of the Russia-Ukraine war. The report suggests that the Burgundy Private Hurun India 500 companies underperformed major indices such as the Sensex and NASDAQ during this period.