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India was an exception with the sensex rising 12% during the year. Four companies controlled by billionaire Gautam Adani made the Hurun Global 500 list for the first time: Adani Enterprises (worth $46 billion), Adani Transmission ($44 billion); Adani Total Gas ($43 billion) and Adani Green Energy ($40 billion). Founded in 2014, Adani Transmission is among the youngest on the list.
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Of the 20 Indian companies in the list, 11 are based in Mumbai and four in Ahmedabad. Reliance Industries is the most valuable company (worth $202 billion), followed by TCS ($139 billion) and HDFC Bank ($97 billion). Financial Services led the way with seven companies, followed by software & services and energy with three companies each. The valuation cut-off for the top 500 has fallen 23% in 2022 to $28 billion compared to $36.6 billion last year. Overall, the top 500 companies lost $11.1 trillion (19%) of their value due to a decline in share prices.
Apple continued to be the most valuable company in the world (worth $2.4 trillion), though its value is down 3% from the previous year. Microsoft retained second place with a valuation of $1.8 trillion, down 15% from the previous year.
Financial services sector was the biggest contributor to the list with 21% or 104 companies, led by United Health Group, Visa and JP Morgan Chase. Energy sector was the biggest winner.
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