The market capitalisation of most large industrial groups in India rose in 2024 led by the rally in the stock market in the first nine months of the year.
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The Tata Group, the largest conglomerate in market value, consolidated its top position, while Bharti, Mahindra & Mahindra and ICICI witnessed the fastest growth in percentage terms.
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Reliance lost market value due to the underperformance of the shares of Reliance Industries, the country’s most valuable company. The market capitalisation of the Adani Group fell amid indictments in the US over bribery and fraud allegations. The total value of state-owned companies surged following the scorching rally in many of their shares in the first nine months of 2024.
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