The National Stock Exchange (NSE) has made headlines by breaking into the top 10 most valuable companies in India, a significant achievement that reflects its growing influence in the financial market. Led by Ashishkumar Chauhan, NSE has seen a remarkable surge in its value, with a staggering 201 percent increase. This puts NSE at the 10th position in terms of overall value, with a total valuation of Rs 4,70,250 crore. The latest rankings were revealed in the 2024 Burgundy Private Hurun India 500 compilation, where NSE emerged as the highest value creator in percentage terms.
Unprecedented Growth and Recognition
Over the past four years, NSE has witnessed a remarkable change in value, soaring by 179 percent. This exponential growth has catapulted NSE into the upper echelons of India’s corporate landscape, solidifying its position as a key player in the country’s financial sector. Notably, the Hurun list also recognizes NSE as the most valuable unlisted company in India, underscoring its significance and impact on the economy.
Amitabh Chaudhry, the Managing Director and Chief Executive Officer of Axis Bank, emphasized the pivotal role played by these top companies in bolstering India’s economic foundation. He noted that these companies collectively employ 8.4 million individuals, contribute significantly to tax revenues amounting to Rs 2.2 lakh crore, and allocate substantial funds towards corporate social responsibility initiatives, amounting to Rs 10,939 crore. The combined value of these 500 companies exceeds US$3.8 trillion, surpassing the GDP of India and the combined GDPs of UAE, Indonesia, and Spain.
Changing Landscape of Indian Economy
According to Anas Rahman Junaid, the Founder and Chief Researcher of Hurun India, the 2024 Burgundy Private Hurun India 500 list reflects a dynamic shift in India’s economic landscape. With 82 new entrants making their mark on the list, the evolving business environment highlights the rapid transformations taking place in the country’s economy. Notably, more than one-third of the companies featured in the list three years ago have dropped off, shedding light on the changing fortunes of various industries.
The industries that witnessed the highest number of new entrants include industrial products, healthcare, and energy, signifying the emerging trends and opportunities in these sectors. Conversely, the financial services industry experienced the most drop-offs, reflecting the evolving challenges and disruptions faced by traditional financial institutions in a rapidly changing economic landscape.
In terms of sheer value, the most-valued company in India remains Mukesh Ambani-led Reliance Industries, with a staggering valuation of Rs 17.52 lakh crore. This is followed closely by Tata Consultancy Services, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, ITC, Larsen & Toubro, HCL Technologies, and NSE, rounding up the top 10 most valuable companies in the country.
When it comes to unlisted companies, NSE maintains its lead as the most valuable unlisted company, followed by Serum Institute of India, Zoho Corporation, Zerodha, Megha Engineering & Infrastructures, Parle Products, Intas Pharmaceuticals, Dream11, Razorpay, and Amalgamations, showcasing the diverse landscape of high-value enterprises in India.
In conclusion, NSE’s remarkable ascent into the top 10 most valuable companies in India is a testament to its growing influence and impact on the financial markets. As the economic landscape continues to evolve, these rankings serve as a barometer of the changing fortunes and dynamics of India’s corporate sector, reflecting the resilience and innovation of the country’s leading companies.
