Infosys [Get Quote] and Tata Consultancy Services [Get Quote] have emerged as the most reputed corporates in India while Tata Motors [Get Quote], Tata Steel [Get Quote] and Hindustan Unilever have tied for the second place, says a corporate reputation index study.

The largest car maker in the country Maruti Udyog [Get Quote] has got the third highest number of votes on the index, says the global consultancy firm TNS' latest Corporate Reputation Index.

The research firm said India's progress is led by IT sector followed by FMCG and Petroleum. "Corporate reputation is assuming increasing importance in today's business, economic and social environment.

As corporate behaviour is increasingly under scrutiny and corporate valuations go beyond financial performance parameters, it is considered to be a measure of confidence in the organisation and goes much beyond market capitalisation and brand equity," TNS said in a statement.

The corporate reputation index represents stakeholder expectations and experiences with the company and its services, processes, management and systems.

The study reflects views of financial community and senior and middle business managers in the industry. It also includes expectations of opinion leaders which comprise of senior bureaucrats, academicians and media personalities.

A total of 70 leading companies across various sectors were selected for the study conducted in the last quarter of previous fiscal. While all top five companies figure in lead rankings across all stakeholder groups, the leaders in the respective stakeholder segments include some more corporate houses.