SBI Tops Hurun’s List of India’s Most Valuable State-Run Companies
In some [[latest]] business news, State Bank of India (SBI) has claimed the top spot as India’s most valuable state-controlled company. This exciting development comes from the recently released ‘2024 Burgundy Private Hurun India 500’ report. The report, which primarily focuses on the top 500 private Indian companies, also includes a special section highlighting the ten most valuable state-owned entities.
SBI’s Impressive Valuation
According to the report, SBI’s valuation has skyrocketed to a remarkable Rs 7.69 lakh crore, showcasing a substantial 53% increase compared to its previous valuation. This is fantastic [[news]] for the Indian [[market]]. This signifies strong growth and confidence in the bank.
Other Top Performers
Life Insurance Corporation of India (LIC) and NTPC Ltd. followed closely behind SBI, each achieving a valuation of Rs 5.89 lakh crore. Both LIC and NTPC also witnessed impressive growth rates of 54% and 51%, respectively. Other notable state-run companies included in the top ten were Oil and Natural Gas Corp., Hindustan Aeronautics Ltd., Power Grid Corp., Coal India, Bharat Electronics Ltd., Indian Railway Finance Corp., and Indian Oil Corp.
Sectoral Highlights
The report reveals a significant presence of financial services companies, with SBI, LIC, and IRFC among the top performers. The energy sector also showed considerable strength, with five companies—NTPC, ONGC, Power Grid Corporation, Coal India, and IOC—making a strong showing. Aerospace and defence was also represented by HAL and BEL. This shows the diversity of India’s strong [[business]] sectors.
Reliance Industries Leads Private Sector
Separately, the Hurun India 500 report listed the 500 most valuable private entities in India. Reliance Industries Ltd. secured the top position with a valuation of Rs 17.5 lakh crore, followed by Tata Consultancy Services Ltd. and HDFC Bank Ltd.
Overall Market Growth
Anas Rahman Junaid, the founder and chief researcher at Hurun India, highlighted a significant increase in the qualification threshold for the list, rising from Rs 6,700 crore to Rs 9,580 crore. This reflects the impressive financial expansion of Indian enterprises. He also noted that every company on the list surpassed the billion-dollar mark, with their combined revenue exceeding $1 trillion—a significant portion of India’s GDP. This shows the incredible overall growth of the Indian [[economy]].
Positive Outlook
The report paints a positive picture of the Indian [[business]] landscape, showcasing strong growth and expansion across various sectors. The strong performance of both public and private companies signifies a healthy and robust [[market]]. This is encouraging [[business]] [[news]] for India’s future.
