New Delhi, Sept. 15 -- In a year of global uncertainty and turbulent equities, a handful of India's largest conglomerates have proven their mettle by creating substantial shareholder wealth.

India's top 10 corporate giants-Reliance group, Tata Group, Bajaj Group, Aditya Birla Group, Murugappa Group, Adani Group, JSW Group, Mahindra Group, Godrej Group and L&T Group-collectively account for 24% of the Indian stock market's total market capitalisation of Rs.111 trillion.

But a closer look reveals a striking paradox.

While the 30 companies in the Sensex have gained 6.2% in market cap so far in 2025, this elite group's combined market cap has inched up by a modest 4.7%. However, this overall underperformance conceals a sharp divergence: wh...