TCS Market Cap Drops Over Rs 90,000 Crore Amid Weak Equity Sentiment

Mumbai — The market valuation of Tata Consultancy Services (TCS) declined by Rs 90,198.92 crore this week, bringing its total market capitalisation down to Rs 9,74,043.43 crore. The company emerged as the biggest loser among India’s top listed firms as equity markets witnessed a broader downturn.

Overall, the combined market capitalisation of six out of the country’s ten most valued companies fell by more than Rs 3 trillion during the week. The decline coincided with weakness in the benchmark BSE Sensex, which dropped by 953.64 points, or 1.14 per cent, reflecting subdued investor sentiment.

Among other major losers, Infosys saw its market value fall by Rs 70,780.23 crore, reducing its total valuation to Rs 5,55,287.72 crore. The slump in IT stocks significantly impacted overall market performance.

Private sector banking giant HDFC Bank also witnessed a sharp decline in valuation, falling by Rs 54,627.71 crore to Rs 13,93,621.92 crore.

Similarly, the market capitalisation of Reliance Industries dropped by Rs 41,883 crore to Rs 19,21,475.79 crore. The valuation of Life Insurance Corporation of India decreased by Rs 23,971.74 crore to Rs 5,46,226.80 crore, while Bharti Airtel lost Rs 19,244.61 crore, bringing its total market value to Rs 11,43,044.03 crore.

Despite the overall bearish trend, a few companies registered gains during the week. The market valuation of State Bank of India surged by Rs 1,22,213.38 crore to Rs 11,06,566.44 crore, making it the biggest gainer among the top firms.

Meanwhile, Bajaj Finance added Rs 26,414.44 crore to reach a market capitalisation of Rs 6,37,244.64 crore. Engineering major Larsen & Toubro gained Rs 14,483.9 crore, taking its valuation to Rs 5,74,028.93 crore.

ICICI Bank also recorded gains, with its market capitalisation increasing by Rs 5,719.95 crore to Rs 10,11,978.77 crore.

Despite the weekly decline, Reliance Industries continued to hold its position as India’s most valued company. It was followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Infosys, and Life Insurance Corporation of India in the ranking of the country’s top ten most valued firms.

With inputs from IANS