Similar to the Sensex, the Nifty serves as a comprehensive index representing the entire market. Renowned for its popularity, it is widely traded in futures and options markets, both locally and globally.
The Nifty is calculated using the free float method, which determines stock weightings based on free-float market capitalization.
Launched on April 22, 1996, the Nifty has a base year of November 3, 1995, with an initial base level of 1000. This implies that with the current Nifty level at 11,700, the market has grown 11.70 times over the past 24 years.
Top 10 Nifty 50 Companies
Reliance Industries Limited (RIL) (₹3020.65 per share as on 03 Jun 2024)
Reliance Industries Limited (RIL), with a market cap of ₹16,40,725.65 crore, is a major Indian conglomerate headquartered in India. Reliance Industries Limited (RIL) operates in four primary sectors: petrochemicals, retail, telecommunications, and energy.
In petrochemicals, RIL holds the position of the largest company in India. Its retail division also leads the nation in terms of revenue. The company’s telecommunications arm, under the Jio brand, is one of India’s largest telecom operators. In the energy sector, RIL has a significant presence in the oil and gas industry, making it one of the major players in this field.
HDFC Bank (₹1572.20 per share as of 03 Jun 2024)
HDFC Bank Ltd., based in Mumbai, Maharashtra, is an Indian banking and financial services company with a market cap of ₹7,81,158.64 crore. Established in August 1994, it ranks among India’s largest private-sector banks. HDFC Bank operates through four main business segments: Retail Banking, Wholesale Banking, Treasury, and Other Banking Operations.
The bank provides several banking products and services, including deposits, loans, credit and debit cards, prepaid cards, NRI banking, insurance, and investment options. Popular offerings include savings and current accounts, fixed deposits, home loans, personal loans, car loans, credit cards, debit cards, prepaid cards, NRI banking, and insurance services.
ICICI Bank (Share Price: ₹1121.05 per share as on 31 May 2024)
ICICI Bank Ltd, headquartered in Mumbai, Maharashtra, is an Indian multinational banking and financial services company with a market cap of ₹5,35,296.57 crore. Established in 1994, it is India’s second-largest bank by assets and market capitalization.
ICICI Bank offers a comprehensive range of banking products and financial services to both corporate and retail customers. These services are delivered through various channels and specialized subsidiaries in investment banking, life and non-life insurance, venture capital, and asset management. The bank operates across India and internationally, with a presence in 15 countries.
Infosys (Share Price: ₹1406.90 per share as on 31 May, 2024)
Infosys Ltd., with a market cap of ₹6,17,823.64 crore, is a consulting, technology, and outsourcing firm that delivers comprehensive business solutions to clients across various industry sectors globally, enhancing their business performance.
The company’s primary industry segments include financial services and insurance (covering banking, finance, and insurance services), as well as businesses in energy, manufacturing, utilities, communication, services, retail, consumer packaged products, logistics, and life sciences.
Infosys offers a wide range of services such as IT Solutions, BPO Services, Consulting Services, Engineering Services, and Products and Platforms. Their IT services draw on extensive domain and business expertise, encompassing application services, infrastructure services, learning services, independent validation and testing, information management, knowledge management, packaged application services, Service-Oriented Architecture (SOA), and systems integration services. These services collectively create IT-enabled business solutions for their clients.
Bharti Airtel Ltd (₹1391.10 per share as on 03 Jun 2024)
Established in 1995 and headquartered in New Delhi, India, Bharti Airtel Ltd. is one of the leading telecommunications enterprises globally, operating across 18 nations spanning Asia and Africa. Its diversified portfolio encompasses mobile, fixed-line, broadband, enterprise, and digital television services.
The cornerstone of Bharti Airtel’s offerings lies in its mobile services, which cater to a vast customer base exceeding 400 million users worldwide. These services extend beyond traditional voice communication to encompass data and digital services. Renowned brands under its umbrella include Airtel, Airtel Xstream, and Airtel Money.
In addition to mobile services, Bharti Airtel provides an array of fixed-line services, including landline and broadband connectivity. Its enterprise solutions cater to businesses with offerings like managed network services, cloud services, data centre services, and managed security services.
Hindustan Unilever Ltd (₹2355.90 per share as on 03 Jun 2024)
With a market cap of ₹5,85,189.20, Hindustan Unilever Ltd (HUL) is a major player in India’s consumer goods industry. It was established in 1933. As a subsidiary of Unilever, a British-Dutch multinational, HUL boasts a diverse portfolio spanning food, home care, personal care, and water purifier categories. Its extensive range of products includes soaps, detergents, shampoos, skincare items, toothpaste, and deodorants.
HUL’s portfolio features renowned brands such as Lux, Lifebuoy, Surf Excel, Rin, Sunsilk, Dove, Pond’s, Fair & Lovely, Axe, Brooke Bond, Lipton, Bru, Knorr, Kissan, Kwality Wall’s, and Pureit. Additionally, HUL leads the tea market in India, with popular brands like Taj Mahal, Red Label, Taaza, and Lipton. With a robust nationwide presence, the company employs over 35,000 individuals and operates through a network of more than 2.3 million retailers.
ITC Ltd (Share Price: ₹426.45 per share as on 31 May, 2024)
ITC Ltd. (ITC), with a market cap of ₹3,64,241.62 crore, operates as a diverse conglomerate spanning various industries. Its operations encompass fast-moving consumer products, hotels, paperboards and specialized papers, packaging, agribusiness, and information technology. The company has a global presence with operations in Southeast Asia, Europe, and North America, while its headquarters are situated in Kolkata, West Bengal, India.
ITC holds significant market leadership across its traditional sectors such as Cigarettes, Hotels, Paperboard, Packaging, and Agri-Exports. Additionally, it is rapidly gaining market share in emerging industries like Packaged Foods & Confectionery, Branded Apparel, Personal Care, and Stationery.
Over the past decade, ITC has developed 25 top-tier Indian brands that continue to add value and maintain a strong presence in the Indian market through its emerging Customer Goods Businesses.
Larsen & Toubro (L&T) (Share Price: ₹3897.15 per share as of 03 Jun 2024 )
Larsen & Toubro Ltd (L&T) with a market cap ₹3,05,619 Crore is an Indian multinational conglomerate headquartered in Mumbai. It was founded in 1938. As one of India’s largest companies, it specializes in engineering, manufacturing, and construction. L&T operates across various sectors such as technology, construction, engineering, manufacturing, and financial services.
The company’s activities encompass numerous industries, including infrastructure, energy, heavy engineering, real estate, and more. Key products offered by L&T include heavy engineering items, construction machinery, building materials, and engineering services. Its well-known brands are L&T Valves, L&T Switchgear, L&T Technology Services, L&T Power, and L&T Constructions.
Tata Consultancy Services (TCS) (Share Price: ₹3702.85 per share as of 03 Jun 2024)
Tata Consultancy Services Ltd (TCS) is a prominent global IT consulting and outsourcing company. Established in 1968, TCS has emerged as a leader in IT services, digital solutions, and business solutions. The company, headquartered in Mumbai, India, employs over 446,000 people across 46 countries.
TCS offers a diverse array of services, including IT consulting, application development, business process services, cloud computing, analytics, engineering and industrial services, and digital transformation.
Its product portfolio features TCS BaNCS, a comprehensive banking software suite, and TCS iON, a cloud-based platform designed for educational institutions. Renowned for its innovative solutions, TCS’s notable brands include TCS iON, TCS BaNCS, TCS MasterCraft, and TCS Digital.
Bajaj Finance Ltd (₹6915.55 per share as on 03 Jun, 2024)
Bajaj Finance Ltd, established in 1987, is a prominent non-banking financial company and a key member of the esteemed Bajaj Group. The company offers a diverse array of financial services and products, encompassing consumer finance, wealth management, insurance, and investment banking. It is involved in multiple business segments, including consumer finance, wealth management, insurance, and investment banking.
Recognized as one of India’s foremost non-banking financial companies, Bajaj Finance delivers its clientele a broad spectrum of financial solutions. The company boasts a substantial presence across the nation having more than 4,000 branches and over 8,000 touchpoints.
Its primary offerings include personal loans, home loans, loans against property, gold loans, two-wheeler loans, and business loans. Additionally, Bajaj Finance provides various digital banking services, such as digital savings accounts, online investments, and digital payments.
Its notable brands include Bajaj Finserv, Bajaj Housing Finance, Bajaj Allianz Life Insurance, and Bajaj Allianz General Insurance. The company also extends its reach into e-commerce through platforms like Bajaj Finserv MARKETS and Bajaj Finserv EMI Store.
Wrap Up
The Nifty 50 index comprises the top-performing companies in the nation, with its composition regularly updated based on performance metrics. These Nifty 50 companies are highly attractive to investors because they offer minimal risk and substantial long-term returns.
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