PremiumAs per the report, in just six months Adani Green moved up the ranking –from 16th to 6th spot, the report showed. By absolute value, the biggest gainers were Adani Green Energy, Reliance Industries and Adani Total Gas.
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The Adani Group gained the most in terms of value in the six months with 88.1% jump as against an increase of just 2% by the top 500 companies, as per the Burgundy Private Hurun India 500 – Special Report.
In comparison to this, billionaire Mukesh Ambani's Reliance Industries -- which houses nearly all its ventures -- saw a 13.4% rise in value to ₹18.87 lakh crore, which helped it retain the top rankings in Burgundy Private Hurun India 500 rankings.
Tata Consultancy Services came second at ₹12.97 lakh crore despite a 0.9% decline in value, and was followed by HDFC Bank, Infosys and ICICI Bank.
Burgundy Private, the private banking business of Axis Bank, and Hurun India launched a Burgundy Private Hurun India 500-Special Report, a list of the 500 most valuable non-state-owned companies in India which tracks changes in the value of the top 500 during the six-month period. This list is tracked from October 30, 2021 to April 30, 2022.
As per the report, in just six months Adani Green moved up the ranking –from 16th to 6th spot, the report showed. By absolute value, the biggest gainers were Adani Green Energy, Reliance Industries and Adani Total Gas.
Adani Green Energy gained 139% ( ₹2,62,238 crore) and reached a value of ₹4,50,874 crore. Adani Power reported a growth of 157.8% ( ₹66,185 crore) and reached a value of ₹1,08,129. Adani Wilmar grew by 189.8% ( ₹66,427 crore) and reached a value of ₹1,01,427 during six month period.
Adani Total Gas grew by ₹1,07,325 and reached a value of ₹2,69,558; Adani Transmission grew ₹1,00,660 and reached a value of ₹3,06,792. Adani Enterprises grew by ₹93,557 and reached a value of ₹2,65,848.
Apart from this, the nine companies in the Adani Group have a combined value of ₹17.6 lakh crore and constitute 7.6% of the total value of 500 top companies
"The Adani Group companies in the review period increased their value by 88.1%, as against an increase of just 2% by the top 500 companies," the report said.
Value of the top 500 companies in India increased marginally by 2% to ₹232 lakh crore from ₹221 lakh crore as on October 30, 2021, it said.
Despite the marginal growth, companies in the list, which is a compilation of non-state owned companies, performed better than those in the 30-share BSE Sensex (down 4%) or the Nasdaq (down 17%), it said.
"Indian companies have weathered the storm and performed better than their global peers. It shows the inherent strength and depth of the Indian economy," Hurun India's managing director and chief researcher Anas Rahman Junaid said.
Among the unlisted companies, National Stock Exchange led with a 35.6% jump in its valuation to ₹2.28 lakh crore, while Serum Institute of India had a 4.6% decline to ₹1.75 lakh crore and Byju's saw a 24.7% jump to ₹1.68 lakh crore.
In companies which saw a decline in valuations and a slip in rankings, yoga exponent Ramdev-run Patanjali Ayurved saw a 17.9% decline in its value at ₹23,000 crore, and also slipped in the ranking to 184th spot from being ranked 34th.
The highest gain was by Vedant Fashions with a growth in valuation of 313.9%, followed by Adani Wilmar and Billdesk at 172.9%, it said.
Banking sector rivals ICICI Bank and HDFC Bank displayed a trend of a decline in value with the second largest lender restricting the decline to 3.9%, as against an over 15% decline for HDFC Bank.
The minimum valuation to make it into the top-500 valuation list was ₹5,800 crore or $760 million, and companies in the list came from 15 states led by Maharashtra. Mumbai alone is home to 159 of the companies, followed by Bengaluru at 59 and Gurugram at 38.
(With PTI Inputs)