Whether you are economics student or investor in stocks and Mutual Funds, it is essential to know about blue chip companies in India.
These blue-chip companies can rightly be called the backbone of India’s industry and to some extent, the national economy. Hence, their stocks are highly prized by investors.
What is a Blue Chip Company?
The term ‘Blue Chip’ company was coined in 1923 by Oliver Gingold, an employee at Dow-Jones. Gingold found stocks of certain companies traded at US$200 or more when this amount was considered too large.
He derived the term from the game of Poker, where players use blue, white and red chips. Blue chips have the highest monetary value.
Hence, Oliver Gingold began describing stocks that trade at the highest value- US$200 or above in 1923- as Blue Chip.
Since then, Blue Chip is commonly used worldwide to describe anything that is prized like a personal asset.
In Banking Financial Services and Insurance (BFSI) sector, it is used to describe companies whose stocks are most prized.
Additionally, blue chip stock companies are financially stable and can withstand bearish and bullish trends in the stock market. Ups and downs of the national economy do not affect them to a large extent.
Blue Chip Companies in India
There are 120 blue chip companies in India. Some of them figure on the Forbes and Fortune lists as most precious companies of this country. Dow Jones also lists some Indian blue chip stock companies.
All blue chip companies have shares that trade on Bombay Stock Market and National Stock Market.
If you are interested in knowing more about leading blue chip companies in the Indian stock market, here is the list.
List of 25 Blue Chip Companies in NSE
1. Tata Consultancy Services
Among all Indian companies, TCS has the highest market capitalization. TCS is the world’s second-largest IT services provider.
The company ranks at 10th position on Fortune India 500 list. In April 2017, TCS crossed the US$100 billion market capitalization mark on the Bombay Stock Exchange.
After the second quarter of the financial year 2023-2019, TCS revenues stood at US$19.07 billion.
Also Read: Top 10 Stock Brokerage Companies in India
2. HDFC Bank Ltd
This Bank was founded in 1994 and is an offshoot of Housing Development & Finance Corporation.
HDFC Bank is India’s most profitable bank by every standard and a top-rated blue chip company in India.
According to various sources, HDFC Bank had revenues more than US$11 billion by December 2017.
The figure would have considerably shot up during 2023. It provides a slew of services and is India’s favourite private sector bank.
3. Infosys Ltd
Infosys was founded in 1981 with a capital of just about US$250, by a group of seven IT engineers.
By the end of the first quarter (Q1) of the financial year 2023-2019 in June, its market capitalisation stood at US$42.23 billion.
Infosys is now an Indian MNC engaged in fields of business consulting, IT and outsourcing.
By the end of the financial year 2017-2023, Infosys Ltd had some 82 sales offices and 123 business development centres in various parts of the world.
Over the years, Infosys Ltd has acquired several American and other companies in the IT sector. Its services are widely used by major companies worldwide.
4. ITC Ltd
ITC Ltd traces its humble beginnings to the year 1910. It was established as the Imperial Tobacco Company of India Ltd to manufacture cigarettes.
This firm was renamed in 1970 as Indian Tobacco Co and continued its cigarette business till 1973.
Post-1973, ITC Ltd began diversifying by entering the hospitality sector with Welcome Group of hotels.
Today, ITC Ltd remains in tobacco products manufacturing in India. However, it has also huge interests in hospitality, food and agriculture, fashion, personal care, stationery, printing and packaging as well as IT sectors.
At the end of the fiscal year 2017-2023, ITC Ltd reported revenues in excess of US$8.4 billion.
5. Housing Development & Finance Corporation
Another leading blue chip companies in India is Housing Development & Finance Corporation.
Housing Development & Finance Corporation is better known in India and abroad as HDFC. It rightly deserves the accolade of being the pioneer of India’s housing finance industry.
Till the mid-1990s, HDFC retained the first rank in the housing finance business. It maintains this position till date.
The corporation also promoted the eponymous HDFC Bank. In fact, HDFC had very humble beginnings in 1977, when it was founded as a small company to provide housing loans.
HDFC continues its business and is growing at a fast pace, with home finance now also promoted by HDFC Bank.
6. Coal India Ltd
Perhaps you are unaware; Coal India Ltd is the world’s largest producer of coal. CIL produces nearly 600 million tons of coal every year.
Coal India Ltd is an Indian government enterprise and was founded in 1975 in Kolkata. CIL accounts for over 82% of India’s coal production.
Its coal is used to fuel India’s thermal electricity plants. At the end of the fiscal year 2016-2017. Coal India Ltd revenues were in excess of US$12 billion.
The company is designated as ‘Maharatna’ enterprise by the Indian government. CIL is also one of the largest employers in India, with more than 400,000 assorted employees working at its various facilities across the country.
Coal India Ltd also mines coal in Africa through a Joint Venture with foreign partners.
7. Hindustan Unilever Ltd
Who has not heard of Hindustan Unilever Ltd (HUL)? It is the largest Fast Moving Consumer Goods (FMCG) companies of India and is a household name.
Brooke Bond tea, Wheel detergent, Rin clothes washing bar, Hamam soap, Dove moisturising crème are all brands of HUL.
During the fiscal year 2016-2017, HUL reported revenues in excess of US$4.8 billion. HUL arrived in India in 1933 as Dutch MNC, Unilever.
Over the decades, this company won hearts of Indians with its exceptional quality products, HUL is into food, personal care, body and beauty products, home care and hygiene and other businesses.
It continues to hold the topmost rank among India’s FMCG companies and is a large employer.
8. Wipro Ltd
Wipro Ltd has significant interests in the IT, business consulting and processes industries. Founded in 1945, Wipro Ltd was among the first Indian firms to venture into IT business. Keeping in mind the need to diversify, Wipro Ltd now has several subsidiaries.
Wipro’s portfolio includes consumer products including food, personal care and hygiene, electrical appliances, engineering and medical systems among others.
Wipro Ltd also has a presence in several foreign countries. At the end of the fiscal year 2017-2023, Wipro Ltd had revenues in excess of US$8.4 billion.
The company now competes with all important Indian FMCG companies and has carved a strong niche in the market.
Wipro’s most visible products include Santoor and Chandrika bathing soaps of India. Its range of electric bulbs is also widely used across India.
9. Axis Bank
Private sector lender, Axis Bank figures on the list of India’s blue chip companies. Axis Bank had over 3,700 branches across India by mid-2023, and the network continues to expand.
Axis Bank was launched in 1993 by Dr Manmohan Singh, who was then finance minister of the country. In those days, it bore the name, UTI Bank, named after Unit Trust of India.
Leading insurance companies of India promoted UTI Bank. In 2007, the bank assumed the new corporate identity- Axis Bank.
It has the distinction of issuing India’s first foreign currency travel cards. Axis Bank now has operations in various foreign countries too.
During the financial year 2017-2023, Axis Bank reported revenues in excess of US$5.4billion, which is impressive for a bank that has recently entered the sector.
Axis Bank has diversified into assets management and now offers Mutual Funds through its Non-Banking Financial Company, Axis Asset Management Ltd.
10. Larsen & Toubro Ltd
Larsen & Toubro is named after two Danish engineers, Henning Holck-Larsen and Soren Kristian Toubro who were refugees in India during World War-II.
The company was founded in Mumbai in 1938. L&T is a respected name in India’s engineering sector.
The company has undertaken and executed several prestigious projects abroad. L&T has a global presence.
During the fiscal year 2017-2023, L&T reported revenues in excess of US$17billion.
Other than engineering, L&T also plays a significant role in India’s defence and aerospace sectors, though there are no separate divisions for the purpose.
Additionally, L&T has diversified into various other sectors including asset management, realty, technology services, solar energy, IT, medical equipment and automation, electrical systems and transmission and alloys.
The company is involved in the Hyderabad Metro Rail Project commissioned by the Telangana state government.
11. Maruti Suzuki India Ltd
Maruti-Suzuki India Ltd was formed as an Indian Joint Venture between Maruti Udyog Ltd and Japan’s automobile and engineering major, Suzuki Motor Corporation to manufacture passenger cars in India.
Its first car, the Maruti Suzuki 800 was a hit in the Indian market and sold at premium rates, after launch in 1983.
The Indian government has since sold its stake in the JV to private organisations.
Maruti-Suzuki India Ltd reported revenues in excess of US$11billion during the financial year 2016-2017. The company continues to manufacture passenger vehicles in India.
Most cars and other passenger vehicles made by Maruti-Suzuki India Ltd are models sold by Suzuki worldwide or their adaptations to suit India’s road conditions and needs of vehicle owners.
12. HCL Technologies Ltd
Founded in 1976 as Hindustan Computers Ltd, the company is now an Indian MNC with a worldwide presence.
It is a major in the IT sector and a reputed name around the world. During the financial year 2017-2023, HCL Technologies Ltd announced revenue in excess of US$9billion.
Over the years, HCL has acquired some 13 companies from the US, UK and other parts of Europe as well as in Africa and the Far East. HCL has offices in about 40 countries.
The company caters to IT and software needs of some of the largest corporations in the world. Its client list includes 650 of the Global 2000 companies and 250 from the Fortune 500 Global list.
HCL Technologies Ltd also features on the Forbes 2000 list of companies. Its stocks are among the 20 largest traded at NSE and BSE and have significant market capitalisation.
HCL Technologies is among Indian companies making a mark worldwide for its IT services.
13. Bajaj Auto Ltd
Bajaj Auto Ltd is an Indian MNC that primarily manufactures two-wheelers and three-wheelers or rickshaws for the domestic and foreign market.
In fact, Bajaj scooters and motorcycles are among the largest selling scooters in the Indian market. Bajaj Auto Ltd is the sixth largest manufacturer of two-wheelers in the world and the second largest in India.
It is the largest three-wheeler manufacturer worldwide and has few competitors.
Auto rickshaws from Bajaj Auto Ltd can be seen on roads of several Asian and African states and are used for goods transport in the Middle East and some parts of South America.
At the end of the fiscal year 2015-2016, Bajaj Auto Ltd reported revenues in excess of US$5.6billion.
The company’s stronghold in the two-wheeler and three-wheeler vehicles segment in India is growing at a rapid pace during 2023.
Bajaj Auto Ltd ranks 1,416 on Forbes 2000 Global list of topmost companies of the world. Bajaj Auto Ltd has now diversified into the financial sector.
These include Bajaj Finserv Ltd, a company known to Indians for its Equated Monthly Instalments (EMI) schemes for Indians buying expensive mobile phones and Bajaj Holdings & Investments Ltd.
14. Lupin Ltd
Lupin Ltd is the single largest producer in the world of anti-tuberculosis medicines and the eighth largest generic pharmaceuticals company in India by revenue.
Lupin’s anti-TB medicines are exported from India to countries around the world.
These medicines are reputed for their superior quality that meets and exceeds international standards.
Lupin Ltd was founded in 1968 as a small company that made pharmaceuticals for the domestic market.
Over the years, Lupin Ltd consolidated its position in this sector and ranks among the most valuable medical companies of India.
Lupin Ltd now is a transnational Indian company. During the financial year 2016-2017, the company reported revenues in excess of US$2.55billion.
Lupin Ltd stocks rank as the 12th largest traded on BSE and NSE. Hence, they have very high market capitalisation.
15. Bosch Ltd
This news may shock you, but a single share of Bosch Ltd costs over Rs.19,000 at BSE and NSE. Because Bosch Ltd ranks among topmost blue chip companies India.
Bosch was founded as an engineering company in Germany in 1886. It arrived in India much later, in 1922. It was the first German company to arrive in India after the subcontinent was rid of British occupation.
In 1951, Bosch established its first manufacturing unit in India.
Bosch Ltd is in the business of automobile components including Anti-lock Braking Systems (ABS), spark plugs, headlamps, magnetos, fuel engines and injectors, combustion systems and other essentials that go into making vehicles.
In India, Bosch Ltd is also into consumer electronics and home appliances as well as security systems and industrial technology.
At the end of the financial year 2017-2023, Bosch Ltd in India announced its revenues stood in excess of 1.47 billion Euro.
Also Read: Top 10 Largest Automobile Companies in India
16. IndusInd Bank Ltd
IndusInd Bank chose its corporate identity to pay tribute to India and the Indus Valley civilisation.
It was formally launched in 1994 as a new generation bank by the erstwhile finance minister, Dr Manmohan Singh (later became Prime Minister of India).
IndusInd Bank ranks among the most profitable private sector banks of India. At the end of the fiscal year 2016-2017, the bank reported revenues in excess of US$2.6billion.
IndusInd Bank has most branches in megacities of India, especially Mumbai followed by New Delhi, Kolkata and Chennai.
It offers a slew of banking products and solutions to customers including savings schemes and loans.
The IndusInd bank operates through some 1,200 branches located across the country. It was the only bank to have offices that function round the clock.
It was the first bank to allow customers to choose their account number. IndusInd Bank shares rank among the highest traded on BSE and NSE. The bank ranks among topmost blue chip companies in India.
17. Hero MotoCorp Ltd
Formerly called Hero Honda, this Indian blue chip company is now known as Hero MotoCorp India Ltd. The company has featured on the Forbes List of 200 Most Respected Companies worldwide.
It began as a JV between Hero Cycles, an Indian firm and Japanese automobile and engineering major, Honda. The two launched a 100cc bike called Hero Honda that can be seen on Indian roads till date.
Following termination of its agreement with Honda, Hero MotoCorp assumed the current corporate identity.
The company reported revenues in excess of US$4.4billion during the financial year 2016-2017.
Hero MotoCorp Ltd has a significant export market for its range of two-wheelers. The company exports to South America, Eastern Europe, parts of Africa and the Far East.
Hero MotoCorp Ltd’s two-wheelers are globally acclaimed for fuel economy and high-performance motors.
18. Dr Reddy’s Laboratories Lt
Based in Hyderabad, Telangana, Dr Reddy’s Laboratories is an Indian pharmaceutical MNC with significant presence worldwide.
The company traced its humble beginnings to 1984 when it opened as a small unit to manufacture Active Pharmaceutical Products (APIs).
After a couple of years, Dr Reddy’s Laboratories launched Norilet, its brand of potent anti-bacterial drug Norfloxacin, generally used to treat Sexually Transmitted Disease (STD) and other severe infections.
The brand cost less than half of others in the Indian market for Norfloxacin. During the year 2017-2023, Dr Reddy’s Laboratories Ltd reported revenues in excess of US$2billion.
Stocks of Dr Reddy’s Laboratories rank among highly prized ones among Indian investors. This blue chip company was the first to launch Minoxidil topical solution used to treat Male Pattern Baldness.
It launched Minoxidil as a generic drug and hence sold at rates much lower than those of branded products. The company is respected in the medical and pharmaceutical sectors across the world.
19. Tech Mahindra Ltd
Part of the larger Mahindra Group known for its automobiles and other products, Tech Mahindra Ltd, is an Indian MNC with a global presence.
It is also a blue chip company in India. At the end of the fiscal year 2017-2023, Tech Mahindra Ltd reported revenues in excess of US$4.77billion.
The company’s core business includes IT solutions, Business Process Outsourcing and networking technology, among others.
Tech Mahindra Ltd was formed as JV between Indian industrial group, Mahindra & Mahindra and British Telecom in 1986.
However, Mahindra Group bought over stakes held by British Telecom in 2010 and gave this company a new corporate identity.
Tech Mahindra’s predecessor- Mahindra British Telecom- was actively involved in solving the Year 2000 computer bug for banks, airlines and other industries.
Though the Y2K bug never struck, its fears caused Tech Mahindra’s fame to spread worldwide as a major Indian IT company.
20. Eicher Motors Ltd
Eicher Motors Ltd was established in 1948. It is also the parent company of Enfield Motorcycles, after having bought over the two-wheeler manufacturer from its British owners.
Eicher Motors Ltd reported revenues in excess of US$1.3billion at the end of the fiscal year 2015-2016.
In India, Eicher Motors Ltd is also reputed for its farming machinery, especially Eicher Tractor, that are found everywhere in rural regions.
Other than tractors and Royal Enfield motorcycles, the company also manufactures passenger buses, mini-vans, small trucks and multi-axle lorry for the domestic and export markets.
Eicher Motors Ltd has a JV with Sweden’s Volvo AB and manufactures coaches for state-run and private bus service operators in the country.
Indeed, all air-conditioned buses in India are now known as Volvo, regardless of their make.
The company also has a JV with American truck manufacturer, Polaris, to manufacture heavy commercial vehicles for domestic and export markets.
21. Aurobindo Pharma Ltd
With revenues in excess of US$1.9billion during the financial year 2016-2017, Aurobindo Pharma Ltd is one of the blue chip companies in India.
APL has a transnational presence and is best known for its low-cost Anti-Retroviral drugs (ARV) used to treat victims of the Human Immunodeficiency Virus (HIV) infections.
Its ARV preparations, as well as generic medicines and Active Pharmaceutical Ingredients (API), are exported to some 125 countries worldwide.
This company was launched in 1986 in Hyderabad as a small unit to manufacture antibiotic Penicillin and its derivatives.
Through research and development, APL has gained a formidable size of the ARV market share in the world. The company also acquired a couple of foreign medicine manufacturers.
APL ranks among the top 10 companies in India for consolidated revenues, of which some 75% are from exports and foreign operations.
APL has caused sufficient envy abroad: in April 2023, a TV channel from the Netherlands accused APL of violating environmental safety laws and harming people of Hyderabad.
22. Yes Bank Ltd
Yes Bank is a blue chip company in India and the fourth largest private bank. These rankings are impressive considering Yes Bank was established in 2004. Yes Bank’s primary functions are banking and asset management.
After the fiscal year 2016-2017, Yes Bank declared revenues in excess of US$2.4billion, making it a critical player in India’s BFSI sector.
Yes Bank went public through Initial Public Offering (IPO) in 2005, a year since its inception.
The issue was oversubscribed. Today, Yes Bank has branches in all major cities of India.
Post-November 9, 2016 demonetization of the Rs.500 and Rs.1,000 Indian currency notes, Yes Bank was among the first to offer a mobile-based app.
Its Yes Bank Wallet that works on Bharat Interface for Money (BHIM) system is very popular in India.
23. Bajaj Finance Ltd
Bajaj Finance Ltd is an Indian NBFC and blue chip company. It is subsidiary of Bajaj Finserv Ltd, formed after the parent two-wheeler and three-wheeler manufacturer, Bajaj Auto Ltd diversified into other ventures.
Bajaj Finance Ltd reported revenues in excess of US$715million at the end of the fiscal year 2015-2016.
Bajaj Finance Ltd offers a variety of financial products to Indian citizens. This includes onboarding for stocks and Mutual Fund investors.
Bajaj Finance Ltd offers loans for consumer durables, vehicle finance, home loans, Small and Medium Enterprises finance, commercial lending and investment facilities in the country.
Stocks of Bajaj Finance Ltd are highly priced and rank among most traded shares on BSE and NSE. The company has a long history of financial security and fair practices.
24. Zee Entertainment Enterprises Ltd
All Indians will be acquainted with Zee Entertainment Enterprises Ltd or Zee, the popular range of TV channels in India.
It is a media and entertainment company based in Mumbai. Zee owns several channels for the Indian audience and has over a dozen channels specifically for foreign viewers.
In addition to telecasts in India over Direct-To-Home satellite and cable TV, Zee also distributes its channels in the Far East, Middle East, Europe and the US through local partners.
These paid and premium channels are very popular among the large Indian diaspora that lives in these countries.
The primary source of income for Zee is advertising revenue received from Indian and foreign companies.
Additionally, the company gets some income from telecasting signals of other Indian and foreign channels using its infrastructure. Zee is a blue chip company in India, despite being established in the mid-1990s.
25. Indiabulls Housing Finance Ltd
News that stocks of Indiabulls Housing Finance Ltd lost several points during the share bazaar slump in October 2023 sent shock ripples down the spines of millions of Indian investors.
The reason: Indiabulls Housing Finance Ltd is a blue chip company and relatively well shielded against bear and bull phases that seem to strike BSE and NSE with alarming alacrity nowadays.
However, the share price drop is not an indicator of Indiabulls Housing Finance Ltd’s financial standing or losses.
Instead, it merely reflects a low interest in shares and possibly heavy selling by some stockholders.
In fact, Indiabulls Housing Finance Ltd is the second largest home loans company of this country. It reported revenues in excess of US$1.1billion at the end of the financial year 2015-2016.
It is part of the Indiabulls Group. This blue chip company is the first in India to launch fully online processes for housing finance for customers.
This company is regulated by India’s state-owned National Housing Bank.
Also Read: Top 10 Biggest Finance Companies in India
Blue Chip Positions
It is worth remembering that rankings of blue chip companies in India change frequently.
This occurs due to surges and decline in market capitalization of their stocks listed on BSE, NSE and foreign stock exchanges, if listed there too.
These aberrations can be caused by any small reason ranging from a change in leadership to poor investor sentiments.
However, these blue chip companies listed above will remain among the 120 such designated by BSE, NSE, Dow Jones and other entities.
Other companies may move upwards as a blue chip but the existing ones will retain their positions in the list.
The Final Conclusion
If you are planning to buy stocks or invest in Mutual Funds, look for blue chip companies. In fact, several asset management companies constitute a special Mutual Fund that purely consists of stocks of blue chip companies.
Hence, they get many subscribers and market value continues to rise, giving you more profits.
It is very important to have stocks of at least some blue chip stock companies in your portfolio of stocks.
They can help you earn good returns over some period of time while withstanding any bearish phases when demand for stocks is low for any reason.
You can also find a complete listing of all 120 Indian blue chip companies from your bank or any asset management company.
The blue chip companies we have listed above are on basis of information gathered from various asset management companies, BSE, NSE and financial news providers.