By Lal Singh India’s Public sector Undertakings or PSUs, played an important role in the national economy and its growth. This sector majorly has government-owned companies which offer services ranging from financial to energy, defence, utilities and much more. To understand the market capitalization of these brands, it would be a good idea to look at their values in the stock market.
As per recent data, you will find government owned companies like banks, NTPC, and Insurance firms playing a vital role in the whole journey. Here, we are listing the top 10 biggest government companies in India by their market worth and the data taken for this blog is from moth of May 2025. Let’s get started:
1. State Bank of India (SBI)
State bank of India is a leading bank in India and it is also the largest and oldest bank in the country. SBI is owned by government and you can find it in every part of the country. The current market cap of SBI is ₹7,21,109.30 crore. All this become possible with the large infrastructure, accessibility, and customer satisfaction. SBI also plays a key role in offering government schemes like Jan Dhan Yojna accounts and small business loans.
2. NTPC Limited
Companies which are in energy production usually have a large scale and employee lakhs of people through various means. NTPC is India’s largest power producing company and it produces electricity through coal, but recently this company has started investing into solar, wind and hydro power. All this helped in growth of this government owned company. NTPC not only keeps India’s lights on but also moves the country toward a greener future. The current market cap as per May 2025 for NTPC limited is ₹3,31,529 crore.
3. Hindustan Aeronautics Limited
With the market cap of ₹3,25,359.04 crore, HAL is India’s top aerospace and defence company working in the marking of fighter jets, helicopters, engines, and advanced equipment. HAL manufacturers all these things mainly for Indian Air Force, Navy, and Army, meanwhile HAL also works with ISRO for space projects. From employing lakhs of people to making India self reliant for defence, HAL is an important asset to our country. With the strong order book in 2025, it has many future lines up of projects.
4. Oil & Natural Gas Corporation (ONGC)
India’s largest oil and natural gas production company, ONGC, is a key player in running the economy. With a market cap size of ₹3,10,707.74 crore, ONGC is on a path for the development of India. The company supplies raw material to many industries and helps reduce India’s dependence on imported fuel. Because energy is always needed, ONGC is one of the most important companies in India. In 2025, even though oil prices in the world keep changing, ONGC has managed to stay profitable.
5. Power Grid Corporation of India Limited
Have you ever wondered who managed electricity transmission and its services? Well, Power Grid Corporation of India Limited plays a vital role in it. From transmission to electricity services, this company focus on various parts of this industry. The market cap of PGCIL is ₹2,78,134.56 crore as of May 2025. NTPC plays vital role in producing electricity, meanwhile PGCIL ensures smooth transfer of power from plant to your home.
6. Coal India Limited
Coal India Limited has a market cap of 2,48,666.09 crore as of May 2025 which makes it sixth largest government stock in India. Coal India is the world’s largest coal producer. Even though the world is moving toward cleaner energy, coal is still very important for India because most electricity is still produced using coal. Coal India supplies fuel to many power plants and industries across the country.
7. Bharat Electronics Limited (BEL)
BEL is a leading electronics company with a market cap of ₹2,55,842.26 crore as of May 2025. This company mainly works for India’s defence forces through the manufacturing of radars, night vision systems, electronic warfare equipment, and communication devices. Currently, BEL is expanding into civilian projects like e-governance solution as well as solar energy system which makes it a fastest growing company. India is also spending billion in defence and these government companies market cap is skyrocketing.
8. Life Insurance Corporation of India (LIC)
A company with a market cap of ₹5.83 lakh crore as of July 2025 which doesn’t need any introduction in this list is none other than LIC. Almost every family in India knows LIC because it has been providing life insurance for decades. It has the biggest network of agents, customers, and assets under management. LIC also invests heavily in many Indian companies and government projects. In 2025, LIC continues to dominate the insurance market. People trust LIC because it is government-owned and has a strong record of paying claims.
9. Indian Oil Corporation Limited (IOCL)
Indian Oil corporation Limited has a market cap of ₹2,04,616.74 crore as per May 2025 numbers and it is possible through the largest oil refining and marketing position. From refineries to pipes, and fuel stations, Indian oil is a well-known name among Indians. Recently, IOCL started focusing on green-fuel like ethanol and hydrogen which can effectively cut down on pollution and help in various ways to citizens of this country.
10. Indian Railway Finance Corporation (IRFC)
IRFC is a finance company which funds to Indian Railways. This company has a market cap of ₹1,69,955.92 crore in May 2025. It raises funds to buy trains, wagons, and other equipment. It also finances big railway projects like high-speed trains and modern stations. Without IRFC, Indian Railways would find it difficult to manage its growth and development. India is modernizing its railway system, IRFC’s role has become even more important for the development of fast rail-network, accessibility, and quality of services.
Bottom line
From PSU to IRFC, these companies run the country and plays a critical role in the development. These companies cover every essential sector from banking to transport, thus these companies are most credible among investors.