India's top-100 listed firms add ₹150L crore in market value
What's the story
India's top 100 listed companies have added a record-breaking ₹148 lakh crore to their market value between 2020 and 2025. The data comes from Motilal Oswal Financial Services's Wealth Creation Study, which highlights this period as the beginning of a long-term compounding cycle. The study also predicts that India's GDP could quadruple from $4 trillion to $16 trillion in the next 17 years, driven by rising incomes and financialization.
Top performers
Bharti Airtel, ICICI Bank lead wealth creation
Bharti Airtel was the biggest wealth creator during this period, adding ₹7.9 lakh crore to its market value. It was followed by ICICI Bank and State Bank of India (SBI) in the wealth creation race. The BSE also recorded stellar growth with a whopping 124% return rate CAGR. Hindustan Aeronautics Ltd (HAL) was named as the most consistent wealth creator for its steady performance throughout this period.
Sectoral growth
Financial services sector drives wealth creation
The financial services sector emerged as the biggest contributor to wealth creation during this period, backed by credit growth and stronger balance sheets. Other sectors that contributed include industrials, capital markets, technology, and utilities. Public-sector enterprises also continued their revival in defense, energy, and utilities with HAL, BEL, and NTPC among major contributors to this trend.
Market expansion
India's market cap now stands at 1.3 times GDP
The study notes that India's financial wealth has grown steadily with its market cap compounding at 17% annually over two decades. Today, the country's market cap stands at 1.3 times its GDP. The report also highlights that financials, capital markets, and consumer discretionary sectors are likely to benefit from rising penetration and scale in this "most powerful compounding era."