Bear attack on India markets: No Indian company in world’s top 100 listed firms by market cap, says report

Amid sustained selling pressure in domestic equities, no Indian company currently features among the world’s top 100 listed firms by market capitalisation (m-cap), according to a Moneycontrol report citing Bloomberg data.

At the start of calendar year 2025, three Indian companies — Reliance Industries Ltd (RIL), HDFC Bank Ltd and Tata Consultancy Services Ltd (TCS) — were part of the global top-100 list. However, none of them now finds a place in that ranking, the report noted.

Reliance Industries, India’s most valued company, has slipped to around 106th globally from 57th at the start of 2025 and 73rd at the beginning of 2026, as per the report.

HDFC Bank, the country’s most valued lender, now ranks 190th globally, down from 97th at the start of 2025.

The report further highlighted that TCS, India’s largest software exporter, has dropped to 314th globally from 84th at the start of 2025 and 171st at the start of 2026.

Infosys, India’s second-largest IT services company, now stands at 590th globally compared to 198th at the start of 2025 and 330th at the start of 2026, according to the report.

Meanwhile, ITC slipped to 702nd from 296th and 466th at the start of 2025 and 2026, respectively.

Among other major Indian firms, Bharti Airtel was ranked 202nd globally, down from 164th at the beginning of 2026.

ICICI Bank and State Bank of India (SBI) slipped to 274th and 276th, respectively, from 215th and 231st at the start of 2026.