Not surprising about LIC, considering its standing in global markets.
[ Source ]
However, while LIC tends to operate like a sovereign fund, unclear whether it is justified to do so.
Also, this particular order of “Top-10 Indian companies in Global Top-500”
is amidst the chaos in various markets in recent times.
There are atleast another dozen Indian listed companies
in close proximity by market-cap,
that would feature in the global Top-500 by market-cap list,
depending on when one samples the list.
[ Source ]
True.
While market-cap, is a proxy for investor confidence/expectations,
a company’s profit is an even more easily manipulated proxy.
Can try browsing through the Financial Shenanigans by Howard Schilit for some of the well-known obvious methods. Hopefully, provides clarity into why it is foolhardy for individuals to believe that they can gain a good understanding of a company’s fundamentals by reading a few articles or even their financial statements.
Note: Not a dig at any attempts to do so.
Just highlighting that even upon doing so,
one doesn’t start thinking of it as something sure-shot with complete conviction.
By the way, since the above list of companies is based on market-cap,
these are by definition the top 10 large-caps in India.
Currently, comprising about 50% of NIFTY50,
investing in a NIFTY50 index already significantly exposes one to each of these 10 companies,
and will continue to do so due to periodic re-balancing,
even if the actual “Top-N companies” by market-cap change over time.
(without one having to spend time researching companies to invest in)