Vedanta and JSW Steel come follow Tata Steel on the second and third spots respectively.
Four of the six metals and mining companies listed among the top 100 brands in India, saw their brand value increase last year despite the difficult circumstances.
The four that saw their brand value inching up were - Tata Steel, Vedanta, JSW Steel and SAIL. On the other hand, Hindalco and Coal India saw their brand value diminishing.
The ranking was done by Brand Finance India, in its latest 2020 report.
Coming at the top was Tata Steel, also the largest Indian steelmaker. Its brand value went up by 16 percent to $1.3 billion, from $1.16 billion last year. Vedanta came in second, with its brand value increasing by 10.5 percent to $786 million. JSW Steel was third, with a brand value of $719 million, up 8.6 percent.
Hindalco, part of the Aditya Birla Group, saw its brand value drop by 6.4 percent, to $416 million. Coal India's brand value was down 5.8 percent, at $413 million.
Overall, the Tata Group retained the top rank as India's most valuable brand. Reliance Industries was among the biggest gainers, with its brand value up 25 percent.
Trying times
Despite Tata Steel's top billing in the metals and mining sector, the company has been facing headwinds, both in its domestic and European businesses.
The European arm has been facing a crisis, with workers in the Netherlands plant protesting the exit of a top official. Reports say that the company may be forced to break-up its European operations, and separate the UK business from the Netherlands one.
Vedanta has been in the news recently after it announced plans to de-list from exchanges in India.
JSW Steel, the steelmaker with the highest capacity in India, saw its Q4 profit shrink 87 percent.
While most of these companies have begun ramping up their capacity, after some relaxations during the lockdown, low demand and unavailability of labour continue to create stress. Much of the demand for these companies come from customers in the auto and constructions sectors.
Find the full Brand Finance India 100 2020 Report here.Read our entire coverage on India' Most Valuable Brands 2020 here.
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Moneycontrol.
