2 weeks Ago By Prashant Tamta
TCS news: TCS is one of the top IT companies in India. The IT major employs thousands of people. However, this week didn't go well for the Tata Group IT firm as it lost Rs 1,10,351.
67 crore in its market cap in just four days (96 hours) from April 1-4. The mcap loss came after TCS shares fell by 6.90 per cent and closed at Rs 3,304.
85 on Friday (April 4). The market cap of the company currently stands at Rs 11,93,769.89 crore.
Tata Consultancy Services (TCS) became the biggest laggard among the top 10 Indian companies amid a bearish trend in domestic equities. This week, from April 1-4, the BSE benchmark gauge Sensex tanked 2,050.23 points or 2.
64 per cent, while the NSE Nifty declined 614.8 points or 2.61 per cent.
Mcap of nine of top-10 most valued firms eroded by Rs 2,94,170 crore The combined market valuation of nine of the top-10 most valued firms eroded by Rs 2,94,170.16 crore in the holiday-shortened week. From the top-10 pack, TCS, Mukesh Ambani's Reliance Industries, Narayana Murthy's Infosys, Bajaj Finance, ICICI Bank, HDFC Bank, Hindustan Unilever Ltd, State Bank of India (SBI) and ITC faced erosion from their market valuation.
Bharti Airtel emerged as the only gainer. The market valuation of Reliance Industries tanked by Rs 95,132.58 crore to Rs 16,30,244.
96 crore, and that of Infosys plunged by Rs 49,050.04 crore to Rs 6,03,178.45 crore.
Reliance Industries (RIL) retained the most valued company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and ITC. READ | Meet woman who once worked at Goldman Sachs, now joins Azim Premji's Wipro in key role as..
. This comes after US President Donald Trump’s announcement to raise tariffs. Top Indian companies, including TCS and Infosys, are facing a major challenge.
This move is expected to directly or indirectly affect many Indian corporations. (With inputs from PTI).
