However, it still lags far behind the US, which leads with a market-capitalisation of $23.9 trillion through August 2014.
Experts, however, caution that though the moves are positive for the sector as a whole, they don't expect much gain in the near-term.
Though India has been one of the best-performing markets in the last two months, it has lagged some of its emerging market peers such as the Philippines, Thailand and South Africa.
New entrants could include Flipkart, Paytm, Cafe Coffee Day and ICICI Prudential Life Insurance, it says
The sentiment around Indian equities remains positive and unchanged.
Besides Budget, markets will be driven by global events and the outcome of assembly elections.
Election results, diesel & gas pricing moves, labour law changes - all stoke anticipation of more cheer ahead.
Infosys, however, feels the high level of cash is an important tool to weather tough times.
Experts attribute this to new launches in anticipation of a demand revival after the 2014 general elections.
With commodity markets remaining soft and uncertain, it is likely the money will flow into equity markets with strong upsides, such as India.
Manish Sabharwal tackles 5 criticisms of demonetisation.
The analysis is based on the free-float market capitalisation.
Together, they controlled nearly Rs 26 lakh crore of assets at the end of FY16.
Cleaning up India's grubby business climate is top of the agenda for both regulators and the government.
India Inc's earnings seem to have gathered momentum with a surge in the BSE Sensex over the past two quarters.
Experts believe the market will fall between 1 and 3%.
'Overall, the Indian economy is doing well.' 'Our economic fundamentals are strong and the early signs of recovery are sustainable.' 'This is positive for the market in the long run.'
The sharp fall in the rupee's value against the dollar during the July-September quarter, it turns out, has come as a boon for corporate earnings.
With a middle class still so small and no apparent leaps in productivity on the farm or in manufacturing on the horizon, India faces its own age of diminished expectations.
India must first improve working condition, then it can concentrate on Make in India concept.
Whether India can create labour-intensive factory jobs instead that it needs to put millions to work in the next few years looks very unlikely.
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