India is set to end the year with five companies valued at more than Rs 5 trillion each as foreign investors pumped a record USD 18.5 billion into Indian stocks in the December quarter, boosting valuations.
Billionaire Mukesh Ambani’s Reliance Industries is the most valuable company with a market value of Rs.12.64 trillion, followed by Tata Consultancy at Rs 10.91 trillion, HDFC Bank at Rs 7.69 trillion, Hindustan Unilever at Rs 5.63 trillion and Infosys at Rs 5.26 trillion.
“The pandemic has created massive opportunities for some businesses. It has created enormous opportunities for pharmaceutical and chemical companies, the technology industry, for offshoring and remotely operating industries," said analysts at HDFC Securities.
There are at least three other companies that are within striking distance of entering the exclusive club if the market rally sustains in 2021. They include mortgage lender Housing Development Finance Corp. with a market cap of Rs.4.44 trillion, Kotak Mahindra Bank with a market value of Rs3.88 trillion and ICICI Bank at Rs3.54 trillion.
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