Narayan Murthy’s Infosys hit again and the company lost Rs 44,226 crore in just 4 days.
From March 10 to 13, IT companies are at the forefront of causing losses to investors this week.
Narayan Murthy’s Infosys is India’s second largest IT company. IT majors are for different reasons, including their office policies and the work of others. Infosys also suffered huge losses in market value in just four days (March 10-13). Infosys’ market capitalization (MCAP) fell by Rs 44,226.62 crore to Rs 655,820.48 crore. IT companies are at the forefront of causing losses to investors. Tata Group’s TCS valuation fell by Rs 35,800.98 crore to Rs 12,707,989 crore, ranking third in the country’s 10-level valuable companies chart. The stock market closed on Friday on Holi Festival. Last week, the BSE Sensex benchmark fell by 503.67 points or 0.68%, while the NSE Nifty fell by 155.3 points or 0.69%.
The market value of five of the top ten most valuable companies combined was Rs 93,357,52 crore, with IT giants Infosys and TCS being hit the hardest, in line with weaker trends in domestic stocks. In addition, the market valuations of Unilever India, the State Bank of India (SBI) and Mukesh Ambani’s Reliance Industries have declined.
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In contrast, ICICI Bank, HDFC Bank, ITC, Bajaj Finance and Bharti Airtel released earnings. The five companies collectively increased their market value by Rs 498,336.2 crore. In addition, Reliance Industries remains the most valuable company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, Infosys, Infosys, National Bank of India, Bajaj Finance, ITC, ITC and Hindustan Unilever.
(Input with PTI)
