Ratan Tata’s TCS, a prominent Indian multinational IT services and consulting company, witnessed a substantial decline in its market capitalization last week. This drop was a result of a general weakening trend in the equities market, placing TCS among the top performers with the largest market cap losses.
The valuation of Tata Consultancy Services (TCS) plummeted by Rs 37,971.83 crore, reaching a total of Rs 15,49,626.88 crore. This constituted the most significant drop among the top 10 most valued firms in India. TCS’s share price, which stood at Rs 4406 on Monday, July 29th, closed at Rs 4283 on August 2nd on the NSE. Despite this dip, TCS maintained its position as the second most valued firm in India.
The overall trend was reflected in the performance of the top 10 most valued firms, with eight of them collectively losing Rs 1,28,913.5 crore in market valuation during the week. Alongside TCS, Infosys emerged as another major laggard, experiencing a Rs 23,811.88 crore decline in its market capitalization, bringing its total to Rs 7,56,250.47 crore.
The ranking of the most valued firms saw Mukesh Ambani’s Reliance Industries retaining its top position, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Hindustan Unilever, and ITC.
