Top 20 Capital Market companies in India 2023
India is home to some of the world’s largest and most successful companies, spanning a wide range of industries and sectors.
The country’s capital market plays a crucial role in enabling these companies to raise capital, fuel innovation, and drive economic growth.
In 2023, the top 20 capital market companies in India are a mix of well-established players and emerging challengers, each with a unique value proposition and a track record of success.
These companies represent a diverse range of industries, including finance, technology, consumer goods, manufacturing, and energy.
The top companies have demonstrated a strong focus on innovation, customer experience, and sustainability, which has helped them stay ahead of the curve and maintain their market position.
They have also shown resilience and adaptability in the face of various economic and market challenges, such as the COVID-19 pandemic, which has highlighted the importance of strong balance sheets, risk management, and digital capabilities.
Overall, the top 20 capital market companies in India in 2023 are poised to play a significant role in driving economic growth and development in the country and beyond, by leveraging their strengths and capabilities to seize new opportunities and create value for their stakeholders.
The list of top 20 Capital Market companies in India as of September 2021, based on their market capitalization:
- HDFC Bank
- Reliance Industries Limited
- HDFC Ltd.
- ICICI Bank
- Infosys Limited
- Kotak Mahindra Bank
- Bajaj Finance Limited
- State Bank of India
- Tata Consultancy Services
- Hindustan Unilever Limited
- Bharti Airtel Limited
- Housing Development Finance Corporation Limited
- ITC Limited
- Larsen & Toubro Limited
- Asian Paints Limited
- Axis Bank Limited
- Wipro Limited
- Maruti Suzuki India Limited
- Mahindra & Mahindra Limited
- UltraTech Cement Limited
HDFC Bank
HDFC Bank is a leading private sector bank in India, headquartered in Mumbai, Maharashtra. It was established in 1994 and is a subsidiary of Housing Development Finance Corporation Limited (HDFC).
HDFC Bank offers a range of financial products and services, including personal banking, business banking, and wholesale banking.
The bank has a strong retail franchise, with a vast network of branches and ATMs spread across the country. HDFC Bank has also made significant investments in digital banking, and its digital platforms are among the most advanced in the Indian banking industry.
The bank has won numerous awards for its innovative products and services, including Best Retail Bank in India by Asian Banker Awards, and Best Digital Bank in India by Euromoney Awards.
HDFC Bank has a market capitalization of over $120 billion as of September 2021, making it one of the largest banks in India by market capitalization.
The bank has consistently reported strong financial performance, with robust asset quality, strong capitalization, and healthy profitability.
The bank’s credit rating is also among the highest for any Indian bank, reflecting its strong financial position and creditworthiness.
Reliance Industries Limited
Reliance Industries Limited (RIL) is a conglomerate company based in Mumbai, Maharashtra, India. It was founded in 1960 by Dhirubhai Ambani and is now led by his son Mukesh Ambani.
RIL has a diversified business portfolio that includes energy, petrochemicals, textiles, natural resources, retail, and telecommunications.
The company is one of the largest private sector companies in India and has a significant presence in global markets. Its flagship businesses include refining and petrochemicals, which account for a significant portion of the company’s revenues.
RIL’s retail business operates under the brand name Reliance Retail, which is the largest retail company in India by revenue and has a vast network of stores across the country.
The company’s telecommunications business operates under the brand name Jio, which is one of the largest mobile network operators in India.
RIL has been at the forefront of several technological advancements in India and has made significant investments in digital technologies, including artificial intelligence, machine learning, and blockchain.
The company’s market capitalization is over $200 billion as of September 2021, making it one of the most valuable companies in India by market capitalization.
Overall, RIL’s diversified business portfolio, strong financial performance, and significant investments in technology have positioned it as a leading company in India and a major player in global markets.
HDFC Ltd.
Housing Development Finance Corporation Limited (HDFC Ltd.) is a leading housing finance company in India, headquartered in Mumbai, Maharashtra. It was established in 1977 with the primary objective of providing housing finance to individuals and families in India.
HDFC Ltd. is a publicly traded company listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
HDFC Ltd. provides a range of products and services, including home loans, home improvement loans, loans against property, and insurance.
The company has a strong distribution network with a vast network of branches and offices spread across India. HDFC Ltd. has also made significant investments in digital technologies, including online loan processing and mobile applications, to enhance customer experience and streamline operations.
The company has a strong credit rating and is considered one of the most creditworthy institutions in India. Its market capitalization is over $100 billion as of September 2021, making it one of the largest housing finance companies in India by market capitalization.
HDFC Ltd. has a long history of consistent financial performance, strong asset quality, and robust risk management practices, which have helped it maintain its position as a leading player in the Indian housing finance sector.
ICICI Bank
ICICI Bank is a leading private sector bank in India, headquartered in Mumbai, Maharashtra. It was established in 1994 and has a vast network of branches and ATMs spread across the country.
ICICI Bank offers a range of financial products and services, including personal banking, business banking, and wholesale banking.
The bank is known for its innovative products and services, including digital banking, mobile banking, and online trading. It has made significant investments in digital technologies to enhance customer experience and streamline operations.
ICICI Bank also has a strong international presence, with subsidiaries and branches in the United States, Canada, the United Kingdom, Singapore, Bahrain, Hong Kong, Qatar, and Dubai.
ICICI Bank has a market capitalization of over $75 billion as of September 2021, making it one of the largest banks in India by market capitalization.
The bank has consistently reported strong financial performance, with robust asset quality, strong capitalization, and healthy profitability.
ICICI Bank’s credit rating is also among the highest for any Indian bank, reflecting its strong financial position and creditworthiness.
Overall, ICICI Bank’s innovative products and services, strong digital capabilities, and international presence have positioned it as a leading player in the Indian banking industry and a major player in global markets.
Infosys Limited
Infosys Limited is a leading multinational information technology and consulting company headquartered in Bangalore, Karnataka, India.
The company was founded in 1981 by a group of seven entrepreneurs, including NR Narayana Murthy, and has grown to become one of the largest IT services companies in the world.
Infosys provides a range of services, including consulting, application development and maintenance, digital transformation, and business process management.
The company serves clients across various industries, including banking, finance, insurance, healthcare, retail, and telecommunications.
Infosys has a strong presence in North America, Europe, and Asia-Pacific regions, with over 250,000 employees globally.
Infosys has been at the forefront of technological advancements and has made significant investments in emerging technologies such as artificial intelligence, machine learning, and blockchain.
The company has also established innovation centres and research labs to promote research and development in these areas.
Infosys has won several awards and recognitions for its work in digital transformation, sustainability, and corporate social responsibility.
Infosys has a market capitalization of over $120 billion as of September 2021, making it one of the largest IT services companies in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
Overall, Infosys’ expertise in emerging technologies, global reach, and strong financial position have positioned it as a leading player in the global IT services industry.
Kotak Mahindra Bank
Kotak Mahindra Bank is a leading private sector bank in India, headquartered in Mumbai, Maharashtra. The bank was established in 1985 as a non-banking financial company and was later converted into a bank in 2003.
Kotak Mahindra Bank provides a wide range of financial products and services, including personal banking, business banking, and wealth management.
The bank has a strong retail franchise, with a network of branches and ATMs spread across India. It has also made significant investments in digital technologies, including mobile banking and online trading, to enhance customer experience and streamline operations.
Kotak Mahindra Bank has a strong credit rating and is considered one of the most creditworthy banks in India.
The bank has a market capitalization of over $60 billion as of September 2021, making it one of the largest private sector banks in India by market capitalization.
Kotak Mahindra Bank has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
The bank has also won several awards and recognitions for its work in areas such as customer service, digital banking, and corporate social responsibility.
Overall, Kotak Mahindra Bank’s strong retail franchise, innovative products and services, and investments in digital technologies have positioned it as a leading player in the Indian banking industry and a major player in global markets.
Bajaj Finance Limited
Bajaj Finance Limited is a leading non-banking financial company in India, headquartered in Pune, Maharashtra. The company was established in 1987 and has grown to become one of the largest retail lending NBFCs in India.
Bajaj Finance offers a wide range of financial products and services, including personal loans, business loans, home loans, consumer durable loans, and credit cards.
The company has a strong distribution network, with over 300 branches and 70,000+ distribution points across India.
Bajaj Finance has made significant investments in digital technologies to enhance customer experience and streamline operations.
The company has also established partnerships with e-commerce companies and retailers to offer financing options to their customers.
Bajaj Finance has a market capitalization of over $70 billion as of September 2021, making it one of the largest NBFCs in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
Bajaj Finance has also won several awards and recognitions for its work in areas such as innovation, customer service, and corporate social responsibility.
Overall, Bajaj Finance’s strong retail franchise, innovative products and services, and investments in digital technologies have positioned it as a leading player in the Indian financial services industry and a major player in global markets.
State Bank of India
State Bank of India (SBI) is the largest public sector bank in India, headquartered in Mumbai, Maharashtra. The bank was established in 1955 and has since grown to become a major player in the Indian banking industry.
SBI offers a wide range of financial products and services, including personal banking, corporate banking, international banking, and treasury services.
The bank has a strong retail franchise, with a network of over 22,000 branches and 59,000+ ATMs across India. It also has a significant presence in international markets, with branches in over 30 countries.
SBI has made significant investments in digital technologies to enhance customer experience and streamline operations.
The bank has launched several digital initiatives, such as SBI YONO, a digital banking platform that offers a range of banking and lifestyle services.
SBI has a market capitalization of over $50 billion as of September 2021, making it one of the largest public sector banks in India by market capitalization.
The bank has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
SBI has also won several awards and recognitions for its work in areas such as digital banking, customer service, and corporate social responsibility.
Overall, SBI’s strong retail franchise, extensive branch network, and investments in digital technologies have positioned it as a leading player in the Indian banking industry and a major player in global markets.
Tata Consultancy Services
Tata Consultancy Services (TCS) is a leading global information technology services, consulting, and business solutions company, headquartered in Mumbai, Maharashtra.
The company was founded in 1968 and has since grown to become one of the largest IT services companies in the world.
TCS offers a wide range of IT services, including application development and maintenance, enterprise solutions, consulting, and engineering services.
The company serves clients across various industries, including banking and financial services, healthcare, retail, and manufacturing.
TCS has made significant investments in digital technologies such as artificial intelligence, cloud computing, and blockchain to enhance its service offerings and help clients navigate the digital age.
The company has also established partnerships with technology firms to accelerate innovation and bring new solutions to the market.
TCS has a market capitalization of over $200 billion as of September 2021, making it one of the most valuable companies in India.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
TCS has also won several awards and recognitions for its work in areas such as digital innovation, corporate social responsibility, and employee engagement.
Overall, TCS’s strong IT service offerings, focus on innovation, and global presence has positioned it as a leading player in the global technology industry and a major player in Indian markets.
Hindustan Unilever Limited
Hindustan Unilever Limited (HUL) is a leading fast-moving consumer goods (FMCG) company in India, headquartered in Mumbai, Maharashtra.
The company was established in 1933 and has since grown to become one of the largest FMCG companies in India.
HUL offers a wide range of consumer products, including home care, personal care, and food and refreshment products.
The company’s popular brands include Surf Excel, Dove, Lux, Lifebuoy, Lipton, and Knorr, among others.
HUL has made significant investments in sustainability and social responsibility initiatives, with a focus on reducing its environmental impact and improving the lives of the communities it serves.
The company has also invested in digital technologies to enhance customer engagement and improve supply chain efficiency.
HUL has a market capitalization of over $100 billion as of September 2021, making it one of the largest FMCG companies in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
HUL has also won several awards and recognitions for its work in areas such as sustainability, innovation, and corporate social responsibility.
Overall, HUL’s strong portfolio of popular brands, focus on sustainability and social responsibility, and investments in digital technologies have positioned it as a leading player in the Indian FMCG industry and a major player in global markets.
Bharti Airtel Limited
Bharti Airtel Limited is a leading telecommunications services provider in India, headquartered in New Delhi. The company was founded in 1995 and has since grown to become one of the largest telecommunications companies in India.
Bharti Airtel offers a wide range of telecommunications services, including mobile, fixed-line, broadband, and digital TV services.
The company serves over 440 million customers across 18 countries in Asia and Africa.
Bharti Airtel has made significant investments in network infrastructure and technology to enhance the quality of its services and improve customer experience.
The company has also launched several digital initiatives, such as Airtel Thanks, a digital loyalty program that offers rewards and benefits to customers.
Bharti Airtel has a market capitalization of over $60 billion as of September 2021, making it one of the largest telecommunications companies in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
Bharti Airtel has also won several awards and recognitions for its work in areas such as customer service, innovation, and digital transformation.
Overall, Bharti Airtel’s strong telecommunications services portfolio, investments in network infrastructure and digital technologies, and global presence have positioned it as a leading player in the Indian telecommunications industry and a major player in global markets.
Housing Development Finance Corporation Limited
Housing Development Finance Corporation Limited (HDFC) is a leading financial services company in India, headquartered in Mumbai, Maharashtra.
The company was established in 1977 and has since grown to become one of the largest housing finance companies in India.
HDFC offers a wide range of financial services, including housing finance, banking, insurance, and asset management services.
The company serves over 10 million customers across India.
HDFC has made significant investments in technology to enhance its service offerings and improve customer experience.
The company has also launched several digital initiatives, such as the HDFC Bank MobileBanking app, to make banking more convenient for customers.
HDFC has a market capitalization of over $150 billion as of September 2021, making it one of the largest financial services companies in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
HDFC has also won several awards and recognitions for its work in areas such as customer service, innovation, and corporate social responsibility.
Overall, HDFC’s strong financial services portfolio, focus on technology and innovation, and commitment to corporate social responsibility have positioned it as a leading player in the Indian financial services industry and a major player in global markets.
ITC Limited
ITC Limited is a leading conglomerate in India, headquartered in Kolkata, West Bengal. The company was established in 1910 and has since grown to become one of the largest diversified companies in India.
ITC’s business portfolio includes a wide range of products and services, including fast-moving consumer goods (FMCG), hotels, paperboards and speciality papers, packaging, agri-business, and information technology.
The company operates across India and has a significant presence in international markets.
ITC has made significant investments in sustainability and social responsibility initiatives, with a focus on reducing its environmental impact and improving the lives of the communities it serves.
The company has also invested in digital technologies to enhance customer engagement and improve supply chain efficiency.
ITC has a market capitalization of over $50 billion as of September 2021, making it one of the largest diversified companies in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
ITC has also won several awards and recognitions for its work in areas such as sustainability, innovation, and corporate social responsibility.
Overall, ITC’s diversified business portfolio, focus on sustainability and social responsibility, and investments in digital technologies have positioned it as a leading player in the Indian market and a major player in global markets.
Larsen & Toubro Limited
Larsen & Toubro Limited (L&T) is a leading engineering and construction conglomerate in India, headquartered in Mumbai, Maharashtra.
The company was established in 1938 and has since grown to become one of the largest engineering and construction companies in India.
L&T’s business portfolio includes a wide range of engineering, procurement, and construction (EPC) services across multiple sectors such as infrastructure, hydrocarbon, power, process industries, defence and aerospace.
The company also has a significant presence in technology and manufacturing the technology focus on innovation and digital technologies.
L&T has made significant investments in technology and innovation to enhance its service offerings and improve customer experience.
The company has also launched several digital initiatives, such as L&T Nexedge, a digital platform that provides EPC solutions to customers.
L&T has a market capitalization of over $60 billion as of September 2021, making it one of the largest engineering and construction companies in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
L&T has also won several awards and recognitions for its work in areas such as innovation, sustainability, and corporate social responsibility.
Overall, L&T’s diversified business portfolio, focus on innovation and digital technologies, and commitment to sustainability and social responsibility have positioned it as a leading player in the Indian engineering and construction industry and a major player in global markets.
Asian Paints Limited
Asian Paints Limited is a leading paint manufacturing company in India, headquartered in Mumbai, Maharashtra.
The company was established in 1942 and has since grown to become one of the largest paint companies in India.
Asian Paints’ business portfolio includes a wide range of decorative and industrial paints and coatings, as well as home improvement products.
The company operates across India and has a significant presence in international markets.
Asian Paints has made significant investments in technology and innovation to enhance its product offerings and improve customer experience.
The company has also launched several digital initiatives, such as the Asian Paints Colour Visualizer, a digital tool that allows customers to visualize paint colours in their homes before making a purchase.
Asian Paints has a market capitalization of over $30 billion as of September 2021, making it one of the largest paint companies in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
Asian Paints has also won several awards and recognitions for its work in areas such as innovation, sustainability, and corporate social responsibility.
Overall, Asian Paints’ strong brand reputation, focus on innovation and digital technologies, and commitment to sustainability and social responsibility have positioned it as a leading player in the Indian paint industry and a major player in global markets.
Axis Bank Limited
Axis Bank Limited is a leading private sector bank in India, headquartered in Mumbai, Maharashtra. The bank was established in 1993 and has since grown to become one of the largest private-sector banks in India.
Axis Bank’s business portfolio includes a wide range of financial products and services, including retail banking, corporate banking, treasury, and international banking.
The bank operates across India and has a significant presence in international markets.
Axis Bank has made significant investments in technology and innovation to enhance its product offerings and improve customer experience.
The bank has also launched several digital initiatives, such as Axis Mobile, a mobile banking application that allows customers to access their accounts, make transactions, and manage their finances on the go.
Axis Bank has a market capitalization of over $25 billion as of September 2021, making it one of the largest private sector banks in India by market capitalization.
The bank has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
Axis Bank has also won several awards and recognitions for its work in areas such as innovation, customer service, and corporate social responsibility.
Overall, Axis Bank’s strong focus on technology and innovation, commitment to customer service, and investments in sustainability and social responsibility have positioned it as a leading player in the Indian banking industry and a major player in global markets.
Wipro Limited
Wipro Limited is a leading information technology (IT) services company in India, headquartered in Bangalore, Karnataka.
The company was established in 1945 and has since grown to become one of the largest IT services companies in India.
Wipro’s business portfolio includes a wide range of IT services and solutions, including application development and maintenance, digital transformation, cloud services, cybersecurity, and data analytics.
The company operates across multiple sectors, including banking and financial services, healthcare, retail, energy, and utilities.
Wipro has made significant investments in technology and innovation to enhance its service offerings and improve customer experience.
The company has also launched several digital initiatives, such as Wipro Holmes, an artificial intelligence platform that helps clients automate business processes.
Wipro has a market capitalization of over $30 billion as of September 2021, making it one of the largest IT services companies in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
Wipro has also won several awards and recognitions for its work in areas such as innovation, sustainability, and corporate social responsibility.
Overall, Wipro’s diversified business portfolio, focus on technology and innovation, and commitment to sustainability and social responsibility have positioned it as a leading player in the Indian IT services industry and a major player in global markets.
Maruti Suzuki India Limited
Maruti Suzuki India Limited is a leading automobile manufacturer in India, headquartered in New Delhi. The company was established in 1981 and has since grown to become one of the largest automobile manufacturers in India.
Maruti Suzuki’s business portfolio includes a wide range of cars, including hatchbacks, sedans, SUVs, and vans. The company has a significant presence in the Indian market and has a strong brand reputation for providing reliable and affordable cars.
Maruti Suzuki has made significant investments in technology and innovation to enhance its product offerings and improve customer experience.
The company has also launched several digital initiatives, such as Maruti Suzuki Smart Finance, a digital platform that provides customers with instant loan approvals.
Maruti Suzuki has a market capitalization of over $50 billion as of September 2021, making it one of the largest automobile manufacturers in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
Maruti Suzuki has also won several awards and recognitions for its work in areas such as innovation, customer service, and corporate social responsibility.
Overall, Maruti Suzuki’s strong brand reputation, focus on technology and innovation, and commitment to sustainability and social responsibility have positioned it as a leading player in the Indian automobile industry and a major player in global markets.
Mahindra & Mahindra Limited
Mahindra & Mahindra Limited is a leading automobile manufacturer in India, headquartered in Mumbai, Maharashtra.
The company was established in 1945 and has since grown to become one of the largest automobile manufacturers in India.
Mahindra & Mahindra’s business portfolio includes a wide range of vehicles, including SUVs, pick-up trucks, commercial vehicles, and electric vehicles.
The company has a significant presence in the Indian market and has a strong brand reputation for providing rugged and reliable vehicles.
Mahindra & Mahindra has made significant investments in technology and innovation to enhance its product offerings and improve customer experience.
The company has also launched several digital initiatives, such as Mahindra SyouV, a platform that provides customers with a virtual showroom experience.
Mahindra & Mahindra has a market capitalization of over $13 billion as of September 2021, making it one of the largest automobile manufacturers in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
Mahindra & Mahindra has also won several awards and recognitions for its work in areas such as innovation, sustainability, and corporate social responsibility.
Overall, Mahindra & Mahindra’s strong brand reputation, focus on technology and innovation, and commitment to sustainability and social responsibility have positioned it as a leading player in the Indian automobile industry and a major player in global markets.
UltraTech Cement Limited
UltraTech Cement Limited is a leading cement manufacturer in India, headquartered in Mumbai, Maharashtra.
The company was established in 1983 and has since grown to become one of the largest cement manufacturers in India.
UltraTech Cement’s business portfolio includes a wide range of cement products, including Ordinary Portland Cement, Portland Pozzolana Cement, and White Cement.
The company has a significant presence in the Indian market and has a strong brand reputation for providing high-quality cement products.
UltraTech Cement has made significant investments in technology and innovation to enhance its product offerings and improve customer experience.
The company has also launched several digital initiatives, such as an online portal that provides customers with easy access to product information and order tracking.
UltraTech Cement has a market capitalization of over $26 billion as of September 2021, making it one of the largest cement manufacturers in India by market capitalization.
The company has consistently reported strong financial performance, with healthy revenue growth, strong profitability, and a robust balance sheet.
UltraTech Cement has also won several awards and recognitions for its work in areas such as sustainability, corporate social responsibility, and environmental stewardship.
Overall, UltraTech Cement’s strong brand reputation, focus on technology and innovation, and commitment to sustainability and social responsibility have positioned it as a leading player in the Indian cement industry and a major player in global markets.
In conclusion, the top 20 capital market companies in India in 2023 represent a diverse range of industries and sectors, including finance, technology, consumer goods, manufacturing, and energy.
These companies have a strong market position and a solid track record of financial performance, driven by their focus on innovation, customer experience, and sustainability.
HDFC Bank, Reliance Industries Limited, and HDFC Ltd. were among the top companies, with a market capitalization of over $150 billion each, followed by ICICI Bank, Infosys Limited, and Kotak Mahindra Bank.
Other notable companies included Bajaj Finance Limited, State Bank of India, Tata Consultancy Services, and Hindustan Unilever Limited.
These companies have weathered various economic and market challenges, including the COVID-19 pandemic, and have shown resilience and adaptability in navigating these challenges.
Their continued success and growth bode well for the Indian economy, and they are poised to play a significant role in driving economic growth and development in the coming years.
