Among the bearish trends in domestic stocks, TC has become the biggest laggard among the top ten companies in India.
TCS News: TCS is one of the most important IT companies in India. The IT major employs thousands of people. However, for Tata Group IT, the performance this week was poor, as it lost its market cap of Rs 1,103,516.7 crore in just four days (96 hours) from April 1 to 4. MCAP loss was 6.90% on TCS shares and closed at Rs 3,304.85 on Friday (April 4). The company’s market capitalization is currently at Rs 11,93,769.89 crore. Tata Consulting Services (TCS) is the biggest laggard among the top ten companies in India in a bearish trend in domestic stocks. This week, from April 1 to 4, the BSE benchmark gauge sensorsex fell 2,050.23 points or 2.64%, while NSE Nifty fell 614.8 points or 2.61%.
The MCAP of the top ten most valuable companies is eroded by Rs 2,941,700 crore
During the week when the holidays were shortened, the nine most valuable companies had a combined market valuation of 294,7016 million. From the top ten, TCS, Mukesh Ambani’s Reliance Industries, Narayana Murthy’s Infosys, Bajaj Finance, ICICI Bank, HDFC Bank, Hindustan Unilever Ltd, India Bank of India Bank of India (SBI) and ITC face erosion in their market valuations. Bharti Airtel became the only profitable person. The market valuation of the industry-dependent industry was Rs 95,132.58 crore to Rs 16,30,244.96 crore, while the market valuation of Infosys fell by Rs 49,050.04 crore to Rs 6,03,178.445 crore. Reliance Industries (RIL) retains the most valuable companies, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, National Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and ITC.
Read | Meet the woman who once worked at Goldman Sachs and now plays a key role with Azim Premji’s Wipro.
This comes after U.S. President Donald Trump announced a hike in tariffs. Top Indian companies including TCS and Infosys are facing a major challenge. This move is expected to directly or indirectly affect many Indian companies.
(Input with PTI)
