India likely to get its first $1 trn market capitalisation firm by 2032

With a mcap of $213 billion, RIL is currently the most-valued Indian firm

India’s first $1 trillion company by market capitalisation (m­­­­cap) is achievable by 2032 and HDFC Bank and Reliance Industries (RIL) are seen as lead contenders, ICICI Securities said in a note on Monday. To achieve this, the shares of both the firms will have to appreciate at least 20 per cent annually for the next decade. ICICI Secu­rities believes this is possible if India’s gross domestic product (GDP) growth accelerates to 9 per cent per annum and corporate profitability cycle peaks.

“Our calculations suggest that India’s first $1 trillion mcap stock could emerge by 2032. The