Largest Companies in India by Market Cap (October 2026)

The 1,185 listed companies ATLAS covers in India range from small caps to national champions. These are the 25 largest by market value, converted to US dollars so they can be compared. The three biggest (Reliance Industries, Bharti Airtel, and HDFC Bank) account for 9% of the combined market value of the whole list.

Data as of Oct 27, 2026. Prices and ratios are the latest stored close; this page refreshes at least every 6 hours.

#	Company	Price	Market cap	1 day	vs fair value	Chance up (1 month)
1	RELIANCE.NSEReliance Industries	₹1,202	$174B	+1.0%	+60%	53%
2	BHARTIARTL.NSEBharti Airtel	₹1,918	$124B	+1.3%	+26%	52%
3	HDFCBANK.NSEHDFC Bank	₹688.05	$115B	-0.7%	+55%	53%
4	ICICIBANK.NSEICICI Bank	₹1,403	$105B	+0.6%	+83%	54%
5	SBIN.NSEState Bank of India	₹960.80	$94.9B	+0.2%	-2%	53%
6	TCS.NSETata Consultancy Services	₹2,535	$94.0B	+0.2%	-1%	51%
7	BAJFINANCE.NSEBajaj Finance	₹918.70	$60.9B	-1.1%	+102%	51%
8	LT.NSELarsen & Toubro	₹3,680	$53.2B	+0.9%	-10%	53%
9	INFY.NSEInfosys	₹1,166	$48.4B	+1.1%	-21%	51%
10	KOTAKBANK.NSEKotak Mahindra Bank	₹440.75	$46.5B	+2.4%	+143%	53%
11	HINDUNILVR.NSEHindustan Unilever	₹1,819	$46.0B	+0.2%	-15%	54%
12	SUNPHARMA.NSESun Pharmaceutical Industries	₹1,740	$44.2B	-0.5%	+62%	54%
13	ADANIPORTS.NSEAdani Ports and Special Economic Zone	₹1,753	$43.0B	+2.9%	+6%	51%
14	TITAN.NSETitan	₹4,323	$41.5B	+0.5%	+121%	53%
15	AXISBANK.NSEAxis Bank	₹1,220	$39.8B	+0.2%	+43%	52%
16	ADANIPOWER.NSEAdani Power	₹186.55	$39.5B	+2.5%	+56%	50%
17	HCLTECH.NSEHCL Technologies	₹1,417	$39.4B	-0.4%	+23%	51%
18	MARUTI.NSEMaruti Suzuki India	₹11,220	$38.1B	-0.1%	+23%	53%
19	ADANIENT.NSEAdani Enterprises	₹2,508	$38.0B	+1.3%	+174%	50%
20	HAL.NSEHindustan Aeronautics	₹4,775	$35.0B	+1.1%	+4%	51%
21	ITC.NSEITC	₹260.50	$34.5B	+1.0%	+31%	52%
22	ULTRACEMCO.NSEUltratech Cement	₹11,180	$33.7B	+1.2%	+32%	53%
23	JSWSTEEL.NSEJSW Steel	₹1,260	$32.0B	+6.3%	-40%	52%
24	NTPC.NSENtpc	₹300.00	$31.6B	+0.7%	-30%	54%
25	ETERNAL.NSEEternal	₹325.55	$31.2B	+2.6%		52%

Fair value gap: a negative number means the price is below ATLAS fair value. "Chance up" is the probability of a higher close in 21 trading sessions (about a month) in ATLAS's calibrated model.

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The top 10 in a sentence

Reliance Industries (RELIANCE.NSE) has a market value of $174B. It trades 60% above ATLAS fair value. ATLAS gives it a 53% chance of closing higher in a month.
Bharti Airtel (BHARTIARTL.NSE) has a market value of $124B. It trades 26% above ATLAS fair value. ATLAS gives it a 52% chance of closing higher in a month.
HDFC Bank (HDFCBANK.NSE) has a market value of $115B. It trades 55% above ATLAS fair value. ATLAS gives it a 53% chance of closing higher in a month.
ICICI Bank (ICICIBANK.NSE) has a market value of $105B. It trades 83% above ATLAS fair value. ATLAS gives it a 54% chance of closing higher in a month.
State Bank of India (SBIN.NSE) has a market value of $94.9B. ATLAS puts it close to its fair value. ATLAS gives it a 53% chance of closing higher in a month.
Tata Consultancy Services (TCS.NSE) has a market value of $94.0B. ATLAS puts it close to its fair value. ATLAS gives it a 51% chance of closing higher in a month.
Bajaj Finance (BAJFINANCE.NSE) has a market value of $60.9B. It trades 102% above ATLAS fair value. ATLAS gives it a 51% chance of closing higher in a month.
Larsen & Toubro (LT.NSE) has a market value of $53.2B. ATLAS puts it 10% below its fair value. ATLAS gives it a 53% chance of closing higher in a month.
Infosys (INFY.NSE) has a market value of $48.4B. ATLAS puts it 21% below its fair value. ATLAS gives it a 51% chance of closing higher in a month.
Kotak Mahindra Bank (KOTAKBANK.NSE) has a market value of $46.5B. It trades 143% above ATLAS fair value. ATLAS gives it a 53% chance of closing higher in a month.

How the largest companies in India are ranked

Market value is price times shares outstanding, stored in US dollars so companies quoted in different currencies compare. Where market value and share count do not reconcile (several share classes, dual listings), the company is left out of the size ranking rather than shown with a wrong number.

There are no quality filters here: this is size, not merit. The fair value gap and the one-month probability are shown for context.

Limits: market values move every day with prices and exchange rates, and the figure shown is the latest ATLAS has stored. A large company is not automatically a safe or cheap one. This is information, not investment advice.

Frequently asked questions

What are the largest companies in India?

In October 2026, the three largest listed companies in India by market value are Reliance Industries, Bharti Airtel, and HDFC Bank. The three together are worth $412B.

How concentrated is the stock market in India?

The three largest companies account for 9% of the combined market value of the 1,185 companies on the list, a quick measure of concentration.

Is the biggest company the best investment?

No. Size says how much the market values a company today, not whether it is cheap or likely to rise. Compare the fair value gap and the ratios on each company page.

How is market value measured here?

Price times shares outstanding, in US dollars at the latest exchange rate ATLAS has stored. Companies whose share count does not reconcile with their stored value are left out.

How often is this list updated?

Prices and values come from ATLAS's stored data, refreshed every day, and this page is rebuilt at least every 6 hours.

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Information only, not investment advice. ATLAS estimates come from statistical models using public data; they can be wrong, and past results do not guarantee future ones. Disclaimer