Top 10 Indian Companies by Market Capitalisation – June 2025

India’s Market Resilience Amid Global Economic Turmoil

Despite recent global economic uncertainty, including persistent trade wars and tariff tensions, India’s equity markets continue to demonstrate remarkable resilience. While several global indices have seen volatile swings, Indian stock markets are projected to scale new highs by the end of 2025, according to a recent Reuters Poll of Equity Analysts.

This resilience has been underpinned by strong domestic consumption, robust banking reforms, and technology-driven growth. The performance of India’s top listed companies reflects this underlying economic strength.

Top 10 Indian Companies by Market Cap (As of June 2, 2025)

Four Indian Companies Cross the ₹1 Lakh-Crore Weekly Valuation Gain

In a significant milestone, four of India’s top ten listed firms collectively saw their market capitalisation surge to ₹1,01,369.5 crore in a single week, as reported by PTI. This rally underscores growing investor confidence in certain sectors, particularly banking, telecom, and insurance.

The biggest weekly gainers were:

• Life Insurance Corporation of India (LIC)
• HDFC Bank
• Bharti Airtel
• State Bank of India (SBI)

Reliance Industries: Still on Top Despite Valuation Dip

Despite a weekly loss of ₹7,645.85 crore, Reliance Industries Ltd remains India’s most valuable company by market capitalisation, with a current valuation of ₹19.044 trillion.

Reliance’s diverse business portfolio—from petrochemicals and retail to telecom and renewable energy—continues to make it a cornerstone of India’s corporate landscape. However, recent market corrections and global crude oil price fluctuations have slightly dented investor sentiment.

HDFC Bank Surges to Second Spot

HDFC Bank, buoyed by strong quarterly earnings and digital transformation initiatives, has solidified its position as the second-most valued firm, with a market cap of ₹16.459 trillion. Its growing presence in rural lending and fintech alliances is widely credited for this upward momentum.

Bharti Airtel and SBI Join the Elite Club of Gainers

Bharti Airtel, with a market capitalisation of ₹11.059 trillion, has benefitted from strong subscriber additions, 5G rollouts, and better average revenue per user (ARPU). The telecom giant’s consistent focus on network expansion and digital services has earned investor trust.

Similarly, State Bank of India (SBI) reached a market cap of ₹7.291 trillion, thanks to a strong rebound in asset quality and robust loan growth.

TCS, Infosys and ICICI Bank Witness a Decline

While Tata Consultancy Services (TCS) retains its position as the third-largest Indian firm with a valuation of ₹12.449 trillion, it faced a minor pullback in market capitalisation. Rising global concerns over tech spending and hiring freezes in key markets like the U.S. have dampened sentiment.

Infosys, valued at ₹6.486 trillion, and ICICI Bank, at ₹10.438 trillion, also witnessed dips due to profit-booking by institutional investors and concerns over overseas exposure.

Bajaj Finance’s Volatile Journey

Bajaj Finance has had a rollercoaster year. Its market cap had surged to an impressive ₹524,312.82 crore in February 2025, marking it as one of the standout performers. However, the recent dip of ₹4,061.05 crore has brought its valuation down to ₹5.654 trillion.

Analysts attribute the decline to short-term volatility and sectoral rotation, rather than fundamental weakness.

Hindustan Unilever Ltd (HUL): A Stable Consumer Giant with Temporary Setbacks

Hindustan Unilever, a bellwether in India’s FMCG sector, saw a marginal weekly valuation erosion of ₹1,973.66 crore, bringing its total market cap to ₹5.566 trillion. While demand for staples remains intact, input cost pressures and changing consumption patterns are affecting margins.

What Is Market Capitalisation and Why Does It Matter?

Market capitalisation (market cap) is the total value of a company’s outstanding shares of stock. It is calculated by multiplying the current share price by the total number of shares in circulation.

This figure helps investors evaluate:

• Company size

• Financial stability

• Investment potential

In general, companies with higher market capitalisation are considered more stable and are often included in key benchmark indices like the Nifty 50 or Sensex.