Top 10 Largest Companies in India by Market Cap (2026)
Reliance Industries is the largest company in India by market capitalisation, valued at close to ₹18 lakh crore in early September 2026. Bharti Airtel and HDFC Bank follow, then ICICI Bank and State Bank of India, so four of the ten most valuable listed companies are banks or lenders. Tata Consultancy Services is the only IT company in the top 10, after a long period in which it was second only to Reliance.
The full ranking — 10 picks
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Top pickRank 1. Reliance Industries
Energy, telecom, retailFounded by Dhirubhai Ambani and run by Mukesh Ambani, Reliance is India's most valuable listed company, with a market capitalisation close to ₹18 lakh crore in early September 2026. Its businesses cover oil refining and petrochemicals, Jio telecom, Reliance Retail and new energy. Its Jamnagar refinery complex is one of the largest in the world.
Conglomeratesector MumbaiHQPhoto: Wikipedia/Wikimedia · Wikipedia (editorial use) -
Rank 2. Bharti Airtel
TelecomSunil Mittal's Bharti Airtel is India's second-largest mobile operator after Jio and also runs telecom networks in many African countries. Strong growth in revenue per user and its 5G rollout have lifted its value, and it ranked second by market cap at the end of August and in early September 2026, ahead of HDFC Bank.
Telecomsector New DelhiHQPhoto: Bharti Airtel Limited · Wikipedia/Wikimedia · Public domain -
Rank 3. HDFC Bank
BankingHDFC Bank is India's largest private sector bank and its most valuable lender. Its 2023 merger with its parent, the mortgage lender HDFC Ltd, created one of the largest banks in the world by market value. It has a very large branch network and is a major issuer of credit cards.
Bankingsector MumbaiHQPhoto: HDFC Bank · Wikipedia/Wikimedia · Public domain -
Rank 4. ICICI Bank
BankingICICI Bank is India's second-largest private bank and has grown steadily in retail loans, deposits and digital banking through its iMobile app. It has been one of the strongest performers among large Indian banks in recent years and is the second most valuable lender after HDFC Bank.
Bankingsector MumbaiHQPhoto: ICICI Bank · Wikipedia/Wikimedia · Public domain -
Rank 5. State Bank of India
BankingSBI is India's largest bank by assets, deposits and branches, and the government holds a majority stake. It serves hundreds of millions of customers and runs the YONO digital banking platform. It is the most valuable state-controlled company on the Indian stock market.
Bankingsector MumbaiHQ Government majorityownerPhoto: State Bank of India · Wikipedia/Wikimedia · Public domain -
Rank 6. Tata Consultancy Services
IT servicesTCS is India's largest IT services company, with annual revenue of just over $30 billion in 2025-26, and the flagship of the Tata Group. For years it was the second most valuable company in India, but weaker growth across the IT sector has pushed it down to sixth by September 2026.
IT servicessector MumbaiHQPhoto: Wikipedia/Wikimedia · Wikipedia (editorial use) -
Rank 7. Bajaj Finance
Financial servicesBajaj Finance is one of India's largest non-bank lenders, known for consumer durable loans at shops, personal loans and its large app-based customer base. Part of the Bajaj group, it has been one of the biggest wealth creators on the Indian market over the past decade.
NBFCsector PuneHQPhoto: Wikipedia/Wikimedia · Wikipedia (editorial use) -
Rank 8. Larsen & Toubro
Engineering, constructionL&T is India's largest engineering and construction company, building metros, airports, power plants, defence equipment and large infrastructure at home and in the Middle East. Its order book grows with government infrastructure spending, and it also owns listed IT businesses such as LTIMindtree.
Engineeringsector MumbaiHQPhoto: Wikipedia/Wikimedia · Wikipedia (editorial use) -
Rank 9. Life Insurance Corporation of India
InsuranceLIC is India's largest life insurer, with the biggest share of the market by premium and a huge network of agents. It was listed on the stock exchanges in 2022 in what was then India's largest IPO, and the government still owns the great majority of its shares.
Insurancesector MumbaiHQ 2022listedPhoto: Tezpur4u · Wikipedia/Wikimedia · CC BY-SA 3.0 -
Rank 10. Hindustan Unilever
Consumer goodsHindustan Unilever, the Indian arm of Unilever, is India's largest consumer goods company, selling brands such as Surf Excel, Lux, Dove, Lifebuoy, Brooke Bond and Kissan. Its products are in most Indian homes, and it closes the top 10 by market value as of early September 2026.
FMCGsector MumbaiHQPhoto: Wikipedia/Wikimedia · Wikipedia (editorial use)
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How this list was made
Market capitalisation is the share price multiplied by the number of shares, so this order changes every trading day. The ranking follows the weekly top-10 table published by the Press Trust of India and reported by Business Standard and other outlets in late August and early September 2026. Only companies listed on the NSE and BSE are included, so large unlisted groups and state-owned businesses without listed shares do not appear. Where two companies are close, such as Bharti Airtel and HDFC Bank, they can swap places within a week, so check a live market source before relying on the exact order.
About this list
Top 10 Largest Companies in India by Market Cap (2026) runs from 1 to 10. Reliance Industries takes the top spot, and Hindustan Unilever closes it out at number 10. It was first published on 24 September 2026.
Spotted something out of date, or an entry you would rank differently? Tell us — the order on this page is revised as the picks change.
