Reliance Group, led by Mukesh Ambani, has overtaken the Tata Group to become India’s largest corporate group by the combined market value of its listed companies, according to a CNBC-TV18 report. The group’s total listed market capitalisation has crossed ₹30.5 lakh crore following the stock market debut of Jio Platforms. The listing has significantly increased the group’s overall market value and placed two of India’s most valuable listed companies under the Reliance umbrella: Reliance Industries and Jio Platforms. Tata Group, which has held the leading position for years, has moved to second place in the reported ranking.
Jio Platforms Lists at More Than 21% Above Issue Price
Jio Platforms made its stock market debut on Wednesday, October 28, listing on both the BSE and NSE at ₹1,358 per share. That represented a gain of more than 21% over its IPO issue price of ₹1,119.
Following the listing, the company’s market capitalisation crossed ₹12.5 lakh crore, placing it among India’s most valuable listed businesses. The strong debut gave Reliance Group a substantial boost in the corporate market-capitalisation rankings.
The listing also highlights the scale of investor interest in the telecom and digital services business. However, market capitalisation reflects the market price of a company’s shares and can change as trading conditions and investor expectations shift.
Reliance Group Takes the Top Position
With Jio Platforms joining the listed market, the combined value of Reliance Group’s 11 listed companies has moved above ₹30.5 lakh crore, according to the report. This places the group ahead of Tata Group in the overall ranking.
Reliance Industries remains the group’s largest listed company, accounting for approximately 53% of its combined market value. Jio Platforms contributes around 42%, making it the second-largest component of the group’s valuation.
The listing has also changed the ownership structure of Jio Platforms. Reliance Industries’ reported stake in the company has declined from 66.4% to 64.5% following the listing.
Jio Platforms’ debut has also altered the rankings within the telecom sector. Bharti Airtel now stands third among the most valuable listed companies in the sector, according to the report, following the entry of Jio Platforms into the public market.
Jio Platforms Reports ₹30,049 Crore Profit
Jio Platforms reported a profit of ₹30,049 crore for the financial year ended March 2026. Its revenue for the period stood at approximately ₹1.5 lakh crore, while its EBITDA margin was reported at 52%.
These figures underline the scale of the company’s operations across telecommunications and digital services. The market’s response to the listing reflects the importance investors attach to the business, although the share price will continue to depend on financial performance, future growth and broader market conditions.
With a market capitalisation exceeding ₹12.5 lakh crore at listing, Jio Platforms has become a major contributor to Reliance Group’s overall valuation. Its performance as a listed company will now be watched closely by investors tracking the telecom sector and the wider stock market.
Tata Group Moves to Second Place
Tata Group’s combined market value has placed it second in the reported corporate ranking. The group operates across a broad range of industries, including information technology, automobiles, steel, jewellery and consumer products.
Tata Consultancy Services (TCS) accounts for approximately 37% of the group’s combined market value, making it the largest contributor to its listed valuation. Titan contributes around 16%, while Tata Steel accounts for roughly 9%.
Trent and Tata Motors each contribute more than 6% to the group’s combined market value, according to the figures cited in the report. The distribution reflects the importance of several major businesses rather than dependence on a single company.
Although Tata Group has lost the top position in the reported ranking, its broad portfolio continues to span multiple sectors. Changes in share prices across these businesses can influence the group’s overall market capitalisation over time.
What the New Ranking Means for Investors
The latest shift illustrates how the listing of a major business can change the relative market value of India’s largest corporate groups. Jio Platforms’ debut has increased Reliance Group’s listed valuation substantially and moved it ahead of Tata Group in the reported comparison.
The ranking, however, is based on market capitalisation rather than revenue, profits or the total value of every business owned by each group. It can also change as share prices fluctuate.
For investors, the development offers a fresh view of the changing balance between India’s largest corporate groups. Jio Platforms’ future financial performance, Reliance Industries’ share price and the performance of Tata Group companies will all remain relevant to how the rankings evolve.