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Reliance Industries Rules on Hurun India's Burgundy Private List, Reinforcing Economic Dominance

Financial Services and Healthcare Sectors Drive Growth in the 2022 Burgundy Private Hurun India 500 List

21 June 2023

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Kunal Tyagi

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  • Reliance Industries, led by Mukesh Ambani, maintains its position as India's most valuable private company with a value of Rs 16.4 lakh crore.

  • Serum Institute of India emerges as the most valuable unlisted company, surpassing the National Stock Exchange, with a value of Rs 1.92 lakh crore.

  • The 2022 Burgundy Private Hurun India 500 list reveals a marginal decline of 6.4% in the total value of the top 500 companies, amounting to Rs 212 lakh crore, with notable gains seen in HDFC Bank, ITC, and Housing Development Finance Corporation.

In the latest update of Hurun India's 2022 Burgundy Private Hurun India 500 list, billionaire Mukesh Ambani's Reliance Industries has emerged as the most valuable private company in India. The list, which ranks non-state-owned companies based on their market capitalization or valuations, reveals the current economic landscape and the performance of various sectors. Reliance Industries' dominant position in terms of value, tax contributions, and profitability solidifies its status as a key player in the Indian business landscape.


Reliance Industries Leads the Pack:


According to the list, Reliance Industries maintains its lead with a staggering value of Rs 16.4 lakh crore, followed by Tata Consultancy Services (TCS) at Rs 11.8 lakh crore and HDFC Bank at Rs 9.4 lakh crore. With a payout of Rs 16,297 crore in taxes and a bottom line of Rs 67,845 crore in 2022-23, Reliance Industries demonstrates both its financial strength and its contribution to the Indian economy.


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Unlisted Companies Make Their Mark:


The list also highlights the value of unlisted companies, with Serum Institute of India taking the top spot as the most valuable unlisted company with a value of Rs 1.92 lakh crore. It surpassed the National Stock Exchange, which now holds the second spot with a value of Rs 1.65 lakh crore. E-learning platform BYJU'S secured the third position with a value of Rs 69,100 crore, showcasing the diverse sectors that contribute to India's economic growth.


Market Trends and Observations:


The six-month update on the 2022 Burgundy Private Hurun India 500 reveals a marginal decline of 6.4% in the total value of the top 500 companies, amounting to Rs 212 lakh crore. This decline, attributed to underperformance in comparison to SENSEX and global indices, impacted the overall rankings. However, notable companies like HDFC Bank, ITC, and Housing Development Finance Corporation experienced substantial gains, while the Adani Group faced a decline in value due to the Hindenburg report's impact.


Sector Insights and Contributions:


The updated list sheds light on the contributions of different sectors to the Indian business landscape. The financial services and healthcare sectors emerged as significant contributors to the 2022 Burgundy Private Hurun India 500, with 72 and 60 companies respectively. Additionally, the presence of industries such as chemicals, consumer goods, and software & services underscore their importance to the overall composition of the list.


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