The Tatas, the Mukesh Ambani-led conglomerate, and Adani Group are the big three business groups in terms of market capitalisation, accounting together for 34.2 per cent of the combined market capitalisation of all family-owned enterprises in the country, up from 31 per cent at the end of March 2021 and 22 per cent at the end of December 2016.

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The big three business groups had a combined market capitalisation of Rs 54.45 trillion on Thursday, up 44.2 per cent from the Rs 37.6 trillion at the end of March 2021.

In comparison, the combined market capitalisation of listed companies was up 24.7 per cent during the period to Rs 247.2 trillion, while that for family-owned listed companies increased 31.4 per cent in FY22 to Rs 159.15 trillion on Thursday.

The sample companies together accounted for 94 per cent of the combined market cap of all companies listed on the BSE on Thursday. Business group market capitalisation is the sum of the individual capitalisation of group companies listed at the end of FY21 and now.