Japan's NTT, with a market cap of $98 billion, China Telecom ($89 billion) and KDDI Corp ($72 billion) complete the top 10 in the comparison, the data showed.
The comparison comes after Jio Platforms made a strong debut on the stock market.
Jio Platforms, the digital arm of RIL, listed at Rs 1,358, a premium of 21.36 per cent over its issue price of Rs 1,119. The stock subsequently climbed to a high of Rs 1,423.80 before closing at Rs 1,419, up 26.81 per cent over its issue price on debut.
On the domestic front, Jio Platforms' strong stock market debut propelled the Reliance Group past the Tata Group to become India's most-valued business group by combined m-cap.
Individually, Jio Platforms commanded a m-cap of Rs 13.05 lakh crore on BSE, overtaking Airtel to become the second-most valued listed company after RIL. This helped push the combined market cap of the Reliance Group above Rs 30 lakh crore.
The Tata Group slipped to the second spot, with a combined market value of around Rs 25.40 lakh crore. The Adani Group, meanwhile, had a combined market value of Rs 16.68 lakh crore, according to AceEquity data compiled by Business Today.
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