Indian multinational conglomerate Tata Group has topped a 2019 study called India’s 100 leading brands by UK-based Brand Finance, as per a Business Standard report.
Given the brand's consistent performance on similar charts, Tata beating out competitors comes as no surprise. However, the 37 percent jump in valuation to $19.55 billion, up from last year's $14.23 billion is notable.
This is the first time in seven years that the Group's valuation has crossed the $18 billion mark. Comparisons with previous Brand Finance reports show the brand stayed in the $13-$14 billion range since 2013.
Valued at $7.2 billion, the country's largest insurer, the Life Insurance Corporation of India (LIC) moved up two spaces and grabbed the second spot on the 2019 list.
Information technology major Infosys, valued at $6.5 billion, took the third position. The company registered a 7.7 percent year-on-year growth.
State Bank of India, Mahindra & Mahindra, HDFC Bank, Airtel, HCL, Reliance Industries and Wipro occupied the fourth to tenth spots.
Notably, Airtel saw it's brand valuation drop by 28 percent, while all others on the top 10 list grew between 1.7 percent and 35.5 percent.
Among the top 12, three names are from the banking sector, namely SBI, HDFC Bank and ICICI Bank. In fact, as many as 14 banks feature on the full top 100 list.
This was a surprise at a time when the domestic banking market is grappling with challenges on various fronts.
Disclaimer: Reliance Industries Limited is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Limited.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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