Master methodology v1.3 · §1.4, §3.1
The WCRC 1000 ranks the 1,000 eligible, separately incorporated Indian companies with the highest average full market value of ordinary equity over 1 July – 31 December. One row represents one listed legal entity, not one exchange ticker, brand, business group or underlying security line (§3.1).
The formula
Daily full market capitalisation on an exchange is the sum, across every eligible ordinary equity class, of that class's official closing price multiplied by its effective listed, issued and paid-up share count on the same capital basis as that price.
The venue period average is the mean of those daily figures across the exchange's trading sessions in the window on which the company was listed. The ranking value is then:
Where a company is listed on both exchanges, the ranking market cap is one half of (NSE period average + BSE period average). Where it is listed on one exchange only, it is that exchange's period average.
§3.1
Ranks are computed at full available precision and only then are displayed values rounded. Market capitalisation in ₹ crore is the rupee figure divided by 10,000,000.
Why an average, and not a single day
A six-month average is resistant to a single day's price spike, it can be cross-checked against the exchanges' own published average-market-cap lists, and it is the basis the SEBI LODR Regulations use for ranking listed entities. That makes the number meaningful to the CFOs and company secretaries of the companies ranked (§3.4).
The ranking is an annual frozen historical snapshot, not a claim that positions remain current. It is amended only for a demonstrable data or method error, with a public correction notice.
What the name carries
Wherever the ranking is named, the line "Ranked by equity market capitalisation" travels with it. The name describes scale over one stated period, not quality, performance, governance or prospects.