India’s 10 most valuable companies in 2026: Reliance leads as 7 of the top 10 gain Rs 1.23 lakh crore market cap

India's 10 most valuable companies in 2026: Reliance Industries is the biggest gainer in the list. (FIle Photo)

Despite ongoing economic volatility, India has emerged as one of the top 10 contributors to the global market capitalisation of $27.4 trillion, Motilal Oswal, a domestic broking firm, reported in December 2025.

It further highlighted that India’s equity market recorded a moderate year-on-year growth of approximately 2.8 per cent in 2025.

Reflecting the positive trend in equities last week, PTI reported seven of its top 10 most valued companies collectively added a combined market capitalisation increase of Rs 123,724.19 crore.

Among the top gainers, Mukesh Ambani-led Reliance Industries notably saw the largest gains in valuation, continuing to benefit from its diversified presence across energy, telecom, retail, and digital services.

Reliance Industries’ market valuation rose by Rs 45,266.12 crore to Rs 21,54,978.60 crore.

Additionally, Larsen and Turbo re-entered the list of valuations, with an increase of Rs 16,204.34 crore to Rs 572,640.56 crore.

HDFC Bank, Bharti Airtel, ICICI Bank, and others also saw notable increases in their market valuations.

However, Tata Consultancy Services (TCS) and Bajaj Finance saw drops in their valuations.

TCS eroded from Rs 10,745.72 crore to Rs 11,75,914.62 crore, while Bajaj saw a decrease in valuation by Rs 5,693.58 crore from Rs 6,16,430.43 crore.

Note: Market capitalisation might fluctuate dramatically over time or even from day to day, as it varies with the share price of a firm. The data is as of January 5, 2026.

Market capitalisation is a crucial metric for investors and stock market enthusiasts, which enables them to assess a company’s worth. The total value of a company’s outstanding shares is calculated by multiplying the current stock price by the total number of shares in circulation, which is why companies with the highest market caps are widely regarded as the most valuable entities in the business world