TCS Market Valuation Drops by ₹53,185 Crore Amid Bearish Trends; Biggest Weekly Loss Among Top IT Firms
TCS Market Valuation Drops by ₹53,185 Crore Amid Bearish Trends; Biggest Weekly Loss Among Top IT Firms
Mumbai: Tata Consultancy Services (TCS), India’s largest IT firm, has witnessed a significant decline in its market valuation, losing ₹53,185.89 crore in the past week. This drop has brought the company’s market capitalization down to ₹13.7 lakh crore, marking the most substantial loss among the top-10 most valued firms in India.
The decline comes amid broader bearish trends in the equity market, where the combined market valuation of eight of the top-10 firms eroded by ₹1,65,784.9 crore. Bharti Airtel also suffered a major setback, losing ₹44,407.77 crore in market capitalization, bringing its valuation to ₹9.3 lakh crore.
During the past week, the BSE benchmark index fell by 628.15 points (0.82%), while the Nifty dropped by 133.35 points (0.58%). Despite the market downturn, Reliance Industries retained its position as the most valued company, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India (SBI), Hindustan Unilever, Bajaj Finance, and ITC.
TCS shares declined by 2.82% between February 17 and 21, closing at ₹3,789.90 per share. The significant drop in valuation coincides with a bearish market sentiment, affecting major IT firms. Infosys also saw its market capitalization decline by ₹17,086.61 crore, bringing it to ₹7,53,700.15 crore.
TCS recently announced new policies and updates regarding salary hikes, with annual increments scheduled for March 2025 and payments beginning in April. However, the recent decline in market valuation raises concerns about its potential impact on employees and future financial strategies.
