New Delhi: With a value of Rs 16.3 lakh crore, Reliance Industries is India's most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore.

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Axis Bank's Burgundy Private and Hurun India released an update on the list of 500 most valuable private sector companies in India which was launched in December 2022.

This is a six-month update (from October 30, 2022- April 30, 2023) on the 2022 Burgundy Private-Hurun India 500, the list of 500 most valuable non-state-owned companies in India.

By absolute value, the biggest gainers were HDFC Bank, ITC and Housing Development Finance Corporation.

The value of four listed Unicorn's- Nykaa, Zomato, Paytm and Policybazaar declined by Rs 7,872 crore during the review period.

Serum Institute of India, the most valuable unlisted company in India, declined by 13 per cent to Rs 1.92 lakh crore.

Jindal Stainless emerges as the top gainer in terms of percentage growth, recording an impressive 213 per cent increase followed by Lloyds Metals and Energy with a growth of 93 per cent.

Financial Services and Healthcare were the biggest contributors to the updated 2022 Burgundy Private-Hurun India 500-Special Report with 72 and 60 companies respectively. The Financial Services, Healthcare, Chemicals, Consumer Goods and Software & Services industries made up nearly half the 2022 Burgundy Private-Hurun India 500.

The value of the top 500 companies from Burgundy Private and Hurun India list in India decreased marginally by 6.4 per cent to Rs 212 lakh crore from Rs 227 lakh crore as on October 30, 2022.

Total value of 287 companies declined during the review period. 14 companies remained flat and 24 dropped out from the list.

The total value of the top 10 companies remains flat at Rs 71.4 lakh crore ($874bn), equivalent to 37 per cent of India's GDP and 34 per cent of the total value of the 2022 Burgundy Private-Hurun India 500. Seven are headquartered in Mumbai.