What are the most valuable companies in India now after the sharp correction in the markets? I am talk of companies in terms of market capitalization.

Reliance Industries and TCS remained the top 2 with market capitalisation of Rs.6.85 trillion and Rs.6.21 trillion respectively. However, Hindustan Unilever has overtaken HDFC Bank to become India’s third-most valuable firm in terms of market capitalisation. During the sell-off, HDFC Bank took a much bigger hit after banking stocks came under pressure. This cloud could continue after Moody’s downgraded the outlook for banks to “Negative”. HUL’s market capitalisation fell by just 4.2% since last week of Feb while HDFC Bank was down 33% during the period. The combined market cap of Nifty-50 has fallen from Rs.90.77 trillion late February to Rs. 62.44 trillion in early April. Bajaj Finance has dropped off the top 10 list as its market cap has fallen below that of Nestle and Asian Paints.Analysts are of the view that HUL business model offers steady growth and few downsides, thanks to its debt-free and cash-rich balance sheet. Lenders could have more problems in the weeks ahead. Ironically, both RIL and TCS had a market cap in excess of Rs.10 trillion before the fall.