India has added nine new entities to take its tally to 20 in the list of top global 500 companies and moved up four places to the fifth rank in the Hurun Global 500 rankings released on Friday.

Led by energy giant Reliance Industries with market capitalisation of $202 billion, the list includes Tata Consultancy ($139 billion) and HDFC Bank ($97 billion).

Billionaire Gautam Adani controlled Adani Group has debuted in the global top 500 companies list with four companies — Adani Enterprises ($63 billion), Adani Transmission ($44 billion), Adani Total Gas ($43 billion) and Adani Green Energy ($40 billion).

The other new entrants in the list from India include ITC ($52 billion), Avenue Supermarts ($33 billion), Axis Bank ($33 billion), Bajaj Finserv ($32 billion) and Larson & Toubro ($32 billion). Interestingly, 50 per cent or 250 companies in the Hurun Global 500 companies have presence in India.

Among state-owned listed companies, Saudi Aramco was the world’s most valuable with value of $2.03 trillion. State Bank of India ($62 billion) and the Life Insurance Corporation of India ($45 billion, were the two biggest state-owned Indian companies. These did not feature in the list as they contained only non-state-controlled companies.

US tops list

The US topped the list with 260 companies with value of $30,446 billion, making up for 65 per cent of the total value. It was followed by China, Japan and UK, while Canada shared the fourth slot with India. The Hurun Global 500 lost $11 trillion of value.

The world’s top 10 valuable companies lost $2.4 trillion in value, but still made up 21 per cent of the total value of the Hurun Global 500. While Apple and Microsoft retained the top slot with market value of $2.4 trillion and $1.8 trillion, Alphabet overtook Amazon to third place.

Despite the cut-off for featuring in the Hurun Global 500 list dropped from $36.6 billion last year to $28 billion, 68 companies have dropped out of the list.

Anas Rahman Junaid, MD and Chief Researcher, Hurun India said global markets have had a bad year, with the exception of India, where the benchmark Sensex was up 12 per cent. Hong Kong’s Hang Seng and Russia’s MOEX were both down by half, Korea’s KOSPI was down 31 per cent, Nasdaq was down 21 per cent, Shanghai Composite Index was down 16 per cent, South Germany’s DAX down 15 per cent and the UK’s FTSE was flat.