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Adani Transmission is now India's eighth most valuable company, with LIC out of top 10

by Rishika Choudhury

Date & Time: Aug 31, 2022 12:00 PM

Read Time: 1 minute

Adani Transmission, India's largest power transmission company, joined the exclusive club of the country's top ten most valuable companies on August 30. The Gautam Adani-led power transmission company has become India's eighth most valuable company, with a market capitalisation of Rs 4.4 trillion.

As a result, India's largest insurance company, Life Insurance Corporation Of India, has dropped out of the coveted list of the top ten most valuable Indian companies. Adani Transmission is now worth more than Housing Development Finance Corporation (HDFC), which has a market cap of Rs 4.31 trillion; Life Insurance Corporation (LIC), which has a market cap of Rs 4.26 trillion), non-banking finance company Bajaj Finance (Rs 4.33 trillion), and telecom services provider Bharti Airtel (Rs 4.12 trillion).

Top 10 companies in India

Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, State Bank of India, Adani Transmission, HDFC, and Bajaj Finance are the top ten firms in India in terms of market valuation.

Adani Transmission shares have risen as much as 27% in the last month, compared to a 1.6% rise in the S&P BSE Sensex. Furthermore, the stock has increased by 84% in the last six months.

Adani Transmission Limited reported a consolidated net profit after tax (PAT) of Rs 168.46 crore for the quarter ended June 30 earlier this month. In the previous fiscal year, the company's consolidated PAT was Rs 433.24 crore.

Meanwhile, on August 30, shares of insurance behemoth LIC were trading around Rs 674. They have, however, fallen 30% from the issue price of Rs 949, eroding Rs 1.75 lakh crore in value.

Also Read: Adani and TotalEnergies join hands to create the world’s largest green hydrogen ecosystem

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