India's Top Five IT Giants Nearly Match Reliance in Market Value

The combined market capitalisation of India's five largest IT companies has nearly fallen to the level of Reliance Industries Ltd. (RIL), following a sharp correction in technology stocks over the past several months. Reliance is currently India's most valuable company with a market value of ₹17.65 lakh crore, while the combined valuation of TCS, Infosys, Wipro, HCLTech, and Tech Mahindra stands at ₹18.12 lakh crore. As of June 30, the combined market value of these five IT firms had declined to ₹17.50 lakh crore, marginally below Reliance's valuation of ₹17.51 lakh crore at the time.

Since 2024, Reliance's market capitalisation has declined by around 16.7% from its lifetime high of ₹21.19 lakh crore. In contrast, the combined valuation of the five IT giants has plunged by 46.2%, falling from ₹33.71 lakh crore to ₹18.12 lakh crore. Shares of Infosys, TCS, HCLTech, Wipro, and Tech Mahindra have fallen by as much as 36% in 2026. Concerns over the impact of artificial intelligence on traditional IT services and weak global demand have significantly weighed on the sector's performance.