{"id":331112,"date":"2026-10-28T15:51:44","date_gmt":"2026-10-28T10:21:44","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=331112"},"modified":"2026-10-28T15:51:44","modified_gmt":"2026-10-28T10:21:44","slug":"reliance-group-market-cap-crosses-rs-30-lakh-crore-after-jio-listing-topping-tata-group-as-most-valuable-conglomerate-and-what-the-double-counting-caveat-means","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/reliance-group-market-cap-crosses-rs-30-lakh-crore-after-jio-listing-topping-tata-group-as-most-valuable-conglomerate-and-what-the-double-counting-caveat-means\/","title":{"rendered":"Reliance Group Market Cap Crosses Rs 30 Lakh Crore After the Jio Listing, Topping Tata as India’s Most Valuable Conglomerate: What the Double-Counting Caveat Means"},"content":{"rendered":"

The Reliance Group market cap went past Rs 30 lakh crore on Wednesday, 28 Oct 2026, after Jio Platforms listed and closed near Rs 1,417.50, a market capitalisation of about Rs 13.05 lakh crore (my calculation), which puts the group ahead of the Tata Group at about Rs 25.51 lakh crore (Business Today). The ranking depends on method: Reliance Industries owns most of Jio, and adding both in full counts that stake twice.<\/em><\/p>\n

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Quick Answer<\/strong><\/p>\n

The Reliance Group market cap rose above Rs 30 lakh crore on 28 Oct 2026 after Jio Platforms listed at about Rs 13.05 lakh crore, which puts it ahead of the Tata Group at about Rs 25.51 lakh crore, according to Business Today and Bloomberg data. The ranking depends on method, because adding Jio Platforms in full to Reliance Industries, which owns about 64% of it, counts that stake twice, and on my overlap-adjusted estimate the group is closer to Rs 22.0 lakh crore. Adani Group is third at about Rs 16.68 lakh crore. This is educational and not a recommendation.<\/p>\n<\/p><\/div>\n

The Reliance Group market cap has jumped by more than Rs 12 lakh crore in two weeks, and the headline that Reliance has become the most valuable conglomerate in India is correct on the usual method. This article explains how the Reliance Group market cap adds up, how it compares with the Tata Group market cap and the other large groups, why double counting changes the answer, and what could move the gap next, using prices as of 3:44 PM IST.<\/p>\n

The sources differ on small points. Business Today says Tata was second on Tuesday, although 28 Oct is a Wednesday, and it gives Reliance only as above Rs 30 lakh crore. I rebuilt the total from the data provider and earlier Business Today figures, and I used the DRHP holding of 66.43% as reported by a secondary site. It is educational and not advice.<\/p>\n

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