Jio listing propels Reliance past Tata Group as India’s biggest conglomerate

Mumbai: The listing of Jio Platforms has reshaped India’s corporate pecking order, propelling the Mukesh Ambani-led Reliance Industries back to the top of the country’s conglomerate rankings by market capitalisation.

Reliance Industries’ combined market cap rose to roughly ₹30.26 lakh crore on October 28, overtaking the Tata Group’s ₹25.39 lakh crore and reclaiming the top position for the first time since October 2020, according to ET Intelligence calculations based on listed group companies. Adani Group ranked third with a market capitalisation of ₹16.8 lakh crore, followed by Bharti Telecom Group at ₹13.98 lakh crore and Bajaj Group at ₹13.32 lakh crore.