Tata group remains the top business group; Adani shines the brightest

The Adani group gained from a continued rally in its existing companies and the acquisition of Ambuja Cement, ACC, and NDTV last year

The Tata group remained India’s top business group in terms of market capitalisation (m-cap) in 2022 but Adani group companies were among the biggest gainers on the bourses for the second consecutive year. Tata companies ended CY22 with a combined group m-cap of Rs 21.2 trillion, down 9.4 per cent year-on-year (YoY) from Rs 23.4 trillion at the end of December 2021.

The Adani group overtook Mukesh Ambani’s firms to become the country’s second-biggest business house in terms of m-cap. Its m-cap more than doubled to Rs 19.66 trillion on Friday, up from Rs 9.62 trillion at the end of