India's Top 10 Most Valued Firms

Bangalore: ICICI Bank toppled Bharti Airtel to become the country's 10th most valued firm in terms of market capitalization, pushing the telecom major out of the top-10 list following a sharp fall in its share price after it posted a sharp dip in first quarter profit.

Bharti Airtel's scrip was under pressure, down 4.4 per cent on the BSE in early trade, as its net profit declined 37 per cent to 762.2 crore for the quarter ended June 30, 2012 - the tenth straight quarterly fall. Listed below are the top 10 firms in terms of market capitalization.

10. ICICI Bank

Airtel's m-cap slipped to 1,08,305 crore, making it the 11th most valued firm, as against ICICI Bank's Rs 1,12,006 crore m-cap which pushed it to 10th place. ICICI (Industrial Credit and Investment Corporation of India) Bank is ranked 288 in Forbes Global 2000 list. The Indian diversified financial services company is headquartered in Mumbai, Maharashtra. It is the second largest bank in India by assets and third largest by market capitalization. It put forward a wide range of banking products and financial services to corporate and retail customers through a array of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank has a network of 2,630 branches and 8,003 ATM's in India, and has a presence in 19 countries, including India. The bank has subsidiary in the United Kingdom, Canada and Russia; branches in United States, Hong Kong, Sri Lanka, Singapore, Bahrain, Qatar and Dubai International Finance Centre; and representative offices in United Arab Emirates, Bangladesh, Thailand, Malaysia, China, South Africa and Indonesia. ICICI’s m-cap is around 1, 12,006 crore.