Corporate Groups and Listed Companies
(This
is for information purposes only. This should not be construed as a
recommendation or investment advice even though the author is a CFA Charterholder. Please consult your financial
adviser before taking any investment decision. Safe to assume the author has a vested
interest in stocks / investments discussed if any.)
India is home to a number of corporate and family groups, like, Tatas, Birlas, Ambanis and others.
There is some confusion about which company belongs to which corporate or family group, because of similarity of names.
This is an attempt to list such groups and their listed companies. They may be having some unlisted companies, but they are not included here. Data aggregators do not provide such information, at least it's not available in public domain.
One peculiarity of Indian corporate houses (similar to those in Japan) is that these companies will have cross holdings, which could complicate the shareholding pattern of companies.
The top of the list will be publicly traded companies from Tata group, Aditya Birla group, Mukesh Ambani group, Mahindra group and so on.
Companies owned by Government of India, such as, public sector undertakings (PSU) and public sector banks (PSBs) are not mentioned here. For more on them, please refer Nifty PSE index, Nifty PSU Bank index, Trendlyne and other sources.
The blog will be updated continually with newer groups.
1. Tata group and their listed firms:
Tata Consultancy Services Limited
Titan Company
Trent
Tata Capital
Tata Consumer Products
Tata Consumer Products
Tata Chemicals
Voltas
Voltas
Tata Motors Passenger Vehicles Ltd
Tata Motors Ltd
The Indian Hotels Company (Taj group of hotels)
Tata Elxsi
Tata Steel
Tata Motors Ltd
The Indian Hotels Company (Taj group of hotels)
Tata Elxsi
Tata Steel
Tata Power
Tata Technologies
Rallis India
TRF Ltd
Taj GVK Hotels & Resorts
Tata Communications
Tata Investment Corporation
Tata Teleservices (Maharashtra)
Tejas Networks
Automotive Stampings & Assemblies
NELCO
Oriental Hotels
Tata Technologies
Rallis India
TRF Ltd
Taj GVK Hotels & Resorts
Tata Communications
Tata Investment Corporation
Tata Teleservices (Maharashtra)
Tejas Networks
Automotive Stampings & Assemblies
NELCO
Oriental Hotels
Benares Hotels
For more on these companies, please see here - Nifty Tata Group index; and Trendlyne weblink.
2. Aditya Birla group and their listed firms:
Grasim Industries
Hindalco Industries
Vodafone Idea
Aditya Birla Capital
Aditya Birla Fashion and Retail
Aditya Birla Lifestyle Brands
Aditya Birla Real Estate (formerly Century Textiles & Industries Ltd)
Aditya Birla Sun Life AMC
Aditya Birla Real Estate (formerly Century Textiles & Industries Ltd)
Aditya Birla Sun Life AMC
India Cements
Aditya Birla Money
Pilani Investment and Industries Corporation
Century Enka
Aditya Birla Money
Pilani Investment and Industries Corporation
Century Enka
For more on this, please see Nifty Aditya Birla group index.
Unlisted:
RCB or Royal Challengers Bangalore (IPL cricket franchise)
3. Mukesh Ambani group and their listed firms:
Jio Financial Services
Reliance Industrial Infrastructure
Alok Industries
Justdial
Network18 Media & Investments
Justdial
Network18 Media & Investments
Unlisted:
Mumbai Indians (IPL cricket franchise)
4. Mahindra group and their listed firms: (led by Anand Mahindra)
Tech Mahindra
Mahindra Holidays & Resorts India
Mahindra Lifespace Developers
Mahindra & Mahindra Financial Services
Mahindra Logistics
SML Mahindra
Swaraj Engines
Swaraj Engines
Mahindra EPC Irrigation
Unlisted:
Mahindra Last Mile Mobility (MLMM)
Mahindra Susten
Mahindra Accelo
Mahindra Aerospace
Mahindra Susten
Mahindra Accelo
Mahindra Aerospace
For more on this, see Nifty Mahindra group index.
5. Gautam Adani group and their listed firms:
Adani Enterprises
Adani Power
Adani Green Energy
Ambuja Cements
Adani Energy Solutions (formerly Adani Transmission)
Adani Energy Solutions (formerly Adani Transmission)
Adani Total Gas
ACC
Orient Cement
ACC
Orient Cement
Sanghi Industries Ltd
New Delhi Television (NDTV)
(Note: In Dec2025, there is a proposal to merge five cement firms -- four listed and one unlisted -- into one company Ambuja Cements creating Adani Cement Empire)
AWL Agri Business Ltd (formerly, Adani Wilmar) - no longer part of Adani group
Unlisted:
Penna Cement Industries Ltd
6. ITC group and their listed firms:
7. Murugappa group and their listed firms:
CG Power & Industrial Solutions
Tube Investments of India
Coromandel International
Carborandum Universal
Cholamandalam Financial Holdings
EID Parry (India)
Shanthi Gears
Wendt India
Coromandel Engineering Company
Kartik Investments Trust
8. Jubilant Bhartia group and their listed firms:
Jubilant FoodWorks
Jubilant Pharmova
Jubilant Ingrevia
Jubilant Industries
Jubilant Pharmova
Jubilant Ingrevia
Jubilant Industries
Jubilant Agri & Consumer Products Ltd
10. RP - Sanjiv Goenka group or RPSG (Calcutta HQ)
CESC Ltd
Saregama India
Firstsource Solutions
PCBL Ltd
RPSG Ventures
Spencer's Retail
Harrisons Malayalam *
CESC Ltd
Saregama India
Firstsource Solutions
PCBL Ltd
RPSG Ventures
Spencer's Retail
Harrisons Malayalam *
(* jointly owned by RP - Sanjiv Goenka group and RPG Enterprises group)
Unlisted:
Lucknow Super Giants (IPL cricket franchise)
11. RPG Enterprises group (owned by Harsh Vardhan Goenka)
KEC International
Zensar Technologies
Ceat Ltd
RPG Life Sciences
Summit Securities
Harrisons Malayalam *
STEL Holdings
FGP
KEC International
Zensar Technologies
Ceat Ltd
RPG Life Sciences
Summit Securities
Harrisons Malayalam *
STEL Holdings
FGP
(* jointly owned by RP - Sanjiv Goenka group and RPG Enterprises group)
12. HDFC Bank group
HDFC Bank
HDFC Life Insurance
HDFC Asset Management Company
HDB Financial Services
13. ICICI group
ICICI Bank
ICICI Prudential Asset Management Company
ICICI Lombard General Insurance Company
ICICI Prudential Life Insurance Company
ICICI Securities (delisted on 21Mar2025)
14. SBI group
State Bank of India
SBI Life Insurance Company
SBI Cards & Payment Services
Unlisted:
SBI Mutual Fund
SBI General Insurance Company
SBI Capital Markets Ltd
SBICAP Securities Ltd
15. HCL group
HCL Technologies
HCL Infosystems
16. L&T group
Larsen & Toubro Ltd
LTM (formerly LTIMindtree)
L&T Technology Services (LTTS)
L&T Finance
17. MP Birla group (Madhav Prasad Birla* group)
Birla Corporation
Universal Cables
Vindhya Telelinks
Birla Cable
(* Priyamvada Birla was wife of MP Birla; she bequeathed her assets to Rajendra S. Lodha through a will. Now, MP Birla is managed by Harsh Vardhan Lodha, son of Rajendra S Lodha.)
18. Bajaj group (different persons, like, Sanjiv Bajaj, Rajiv Bajaj, Shekhar Bajaj, Madhur Bajaj and Niraj Bajaj manage different companies of the group)
Bajaj Finserv
Bajaj Auto
Bajaj Holdings & Investment
Bajaj Housing Finance
Maharashtra Scooters
Bajaj Electricals
Bajel Projects
Mukand
Hercules Hoists
Hindustan Housing Company
(In 2008, Shishir Bajaj and his son Kushagra Bajaj separated from Bajaj group -- and they now look after Bajaj Consumer Care and Bajaj Hindustan Sugar)
19. Shishir Bajaj group
Bajaj Hindustan Sugar
Bajaj Consumer Care
20. JSW group (headed by Sajjan Jindal)
JSW Infrastructure
JSW Dulux (formerly Akzo Nobel India)
JSW Holdings
JSW Cement
Shiva Cement (a subsidiary of JSW Cement)
Please check tweet 30Dec2024 for more on this.
Unlisted:
Delhi Capitals (IPL cricket franchise) (jointly by JSW and GMR groups) (Delhi Capitals' old name is Delhi Daredevils)
21. Naveen Jindal
Jindal Steel Ltd ( formerly Jindal Steel & Power Ltd or JSPL)
22. JSL group (headed by Ratan Jindal)
Jindal Stainless
23. PR Jindal group (headed by Prithavi Raj Jindal)
Jindal Saw
JITF Infralogistics
Nalwa Sons Investments belongs to OP Jindal group.
Note on Jindals: Mrs Savitri Devi Jindal is wife of Late Om Prakash Jindal (OP Jindal). Their sons are: Prithviraj Jindal, Sajjan Jindal, Ratan Jindal and Naveen Jindal. As shown above, the companies belonging to them are headed by different persons and they are having cross holdings and are related parties to one another. Sometimes, the group companies of these four sons are collectively known as OP Jindal group.
24. BC Jindal (Bhavi Chand Jindal) group
Jindal Poly Films
25. DP Jindal (Dharm Pal Jindal) group
Jindal Drilling & Industries
Haryana Capfin
26. Max Group (Analjit Singh is one of the promoters)
Max Financial Services Ltd
Max Estates
Max Ventures & Industries
Max India
{it may be noted Max Healthcare Institute Ltd (whose promoter is Abhay Soi) does not belong to this Max Group companies of Analjit Singh}
27. Kalyani Group (Baba Kalyani of Bharat Forge)
Bharat Forge
Hikal Ltd
Kalyani Steels
Automotive Axles
Kalyani Investment Company
BF Invstment
BF Utilities
Kalyani Forge
28. Godrej Industries Group (Nadir Godrej, Adi Godrej and Pirojsha Godrej)
Godrej Consumer Products
Godrej Properties
Godrej Industries
Godrej Agrovet
Astec Lifesciences
Unlisted:
Godrej Capital
Godrej Ventures
Godrej Seeds and Genetics
Innovia Multiventures
Anamudi Real Estates
29. Godrej Enterprises Group (Jamshyd Godrej)
No listed companies
Unlisted:
Godrej Boyce & Manufacturing
Godrej Holdings
Godrej Infotech
RKN Enterprieses
30. CKA Birla group * (formerly CK Birla Group)
Birlasoft Ltd
Orient Electric
Birlanu Ltd (ex-HIL Ltd, ex-Hyderabad Industries Ltd)
Hindustan Motors
Orient Paper & Industries
Orient Electric
Birlanu Ltd (ex-HIL Ltd, ex-Hyderabad Industries Ltd)
Hindustan Motors
Orient Paper & Industries
Unlisted:
GMMCO
National Engineering Inds (manufacturer of NBC Bearings)
CK Birla Healthcare Private
AVTEC
Neosym Industry
National Engineering Inds (manufacturer of NBC Bearings)
CK Birla Healthcare Private
AVTEC
Neosym Industry
* the group is led by CK Birla ( Chandra Kant Birla), Chairman
and Mrs Amita Birla, Co-Chairman
Note: Orient Cement was bought by Ambuja Cements in May2025
31. Wadia Group (led by Nusli Wadia)
Britannia Industries Ltd
Bombay Burmah Trading Corporation (holding company)
Bombay Dyeing & Manufacturing Company
National Peroxide
Unlisted:
Bombay Realty
Wadia Techno-Engineering Services Ltd
Punjab Kings (IPL cricket franchise) (jointly owned by Wadia and Dabur groups and Preity Zinta)
32. Bharti Airtel Group (led by Sunil Mittal) - Bharti Enterprises Group
Bharti Airtel
Indus Towers
Bharti Hexacom
Unlisted:
Talwandi Sabo Power Ltd (TSPL) [after demerger, will be renamed as Vedanta Power Ltd]
Malco Energy Ltd (MEL) [after demerger, will be renamed as Vedanta Oil & Gas]
Vedanta Iron and Steel Ltd (VISL) Unlisted:
Bharti AXA Life Insurance
Airtel Payments Bank
Eutelsat Group (OneWeb)
Bharti Realty
Airtel Payments Bank
Eutelsat Group (OneWeb)
Bharti Realty
Haier India (took a minority stake in Dec2025)
33. Wipro Group (led by Rishad Premji)
Wipro Ltd
Unlisted:
Wipro Enterprises (FMCG, Lighting & Engineering)
Wipro GE Healthcare (medical diagnostics)
Wipro Ventures
34. Vedanta Resources Ltd Group (led by Vedanta Ltd's Anil Agarwal)
Hindustan Zinc (Govt of India owns 27.92% stake in HZL)
Sterlite Technologies
Vedanta Power (formerly Talwandi Sabo Power Ltd)
Vedanta Oil & Gas (formerly Malco Energy Ltd)
Vedanta Iron and Steel
Vedanta Power (formerly Talwandi Sabo Power Ltd)
Vedanta Oil & Gas (formerly Malco Energy Ltd)
Vedanta Iron and Steel
STL Networks
(Note: "Vedanta Limited" is being split into five independent listed companies:
Vedanta Aluminium Metal Ltd (VAML) [after demerger, Bharat Aluminium Co stake will be trasnferred to Vedanta Aluminium Metal Ltd]
Vedanta Aluminium Metal Ltd (VAML) [after demerger, Bharat Aluminium Co stake will be trasnferred to Vedanta Aluminium Metal Ltd]
Talwandi Sabo Power Ltd (TSPL) [after demerger, will be renamed as Vedanta Power Ltd]
Malco Energy Ltd (MEL) [after demerger, will be renamed as Vedanta Oil & Gas]
Vedanta Iron and Steel Ltd (VISL)
Vedanta Limited (retains the remaining assets, Zinc assets and incubation businesses like semiconductors)
BALCO
ESL Steel Ltd (formerly Electrosteel Steels)
Sterlite Copper
FACOR
FACOR
(Note: Unlisted and UK-based company, Vedanta Resources Ltd is the ultimate parent company of all listed and unlisted entities controlled by Anil Agarwal)
35. Torrent Group
Torrent Pharmaceuticals
Torrent Power
JB Chemicals & Pharmaceuticals
Gujarat Lease Financing
Unlisted:
Torrent Gas (CGD)
Gujarat Titans (IPL cricket franchise)
36. Dabur Group (led by Burman family)
Dabur India
Religare Enterprises (Tweet thread 17Nov2023)
Eveready Industries Industries
Unlisted:
Punjab Kings (IPL cricket franchise) (jointly owned by Wadia and Dabur groups and Preity Zinta)
37. Motherson Group
Samvardhana Motherson International (SAMIL)
Motherson Sumi Wiring India
38. Kirloskar Group (Rahul Chandrakant Kirloskar controls some of these firms)
Kirloskar Oil Engines (engines, gensets and pumps)
Kirloskar Pneumatic Company (compressors)
Kirloskar Ferrous Industries (precision castings & tubes)
Kirloskar Industries (holding company)
Unlisted:
Avanta Spaces (real estate) (unlisted)
Arka Fincap (NBFC) (unlisted)
(important note: The latest annual report, as of Jul2026, of these companies mention all these listed and unlisted firms as Kirloskar Group companies -- though for operational sake, they may be run by different persons)
39. Kirloskar Group (Sanjay Chandrakant Kirloskar controls these firms)
40. Another company with Kirloskar name (Vijay Ravindra Kirloskar controls it)
Kirloskar Electric Company
41. TSF group
TSF Investments (formerly Sundaram Finance Holdings)
Wheels India
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References:
Tweet thread Jubilant Bhartia group
Tweet thread Murugappa group
Tweet thread RP Sanjiv Goenka and RPG Enterprises groups - blog
Blog Adani group
Blog Adani group
Blog Adani group
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Read more:
Blog of Blogs Theme-wise
Weblinks and Investing
India Fixed Income Data Bank
Indian Economy Data Bank
India Forex Data Bank
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