In a week marked by bearish trends in the equity market, Tata Consultancy Services (TCS) suffered the largest loss in market capitalization among India’s top 10 most valued companies.
The combined market valuation of eight of these firms eroded by a staggering Rs 1,65,784.9 crore, with TCS bearing the brunt of the decline.
TCS, India’s largest IT firm, saw its market valuation plummet by Rs 53,185.89 crore, bringing its total value down to Rs 13,69,717.48 crore.
This significant drop was part of a broader trend where the BSE benchmark index fell by 628.15 points, or 0.82%, and the Nifty declined by 133.35 points, or 0.58%, during the week.
The decline in TCS’s market capitalization was largely due to a 2.82% drop in its share price over five trading days. Despite this setback, TCS remains one of the most valued companies in India, second only to Reliance Industries.
Bharti Airtel: The telecom giant faced a substantial loss, with its market capitalization dropping by Rs 44,407.77 crore to Rs 9,34,223.77 crore.
ICICI Bank: The bank’s valuation tumbled by Rs 18,235.45 crore, settling at Rs 8,70,579.68 crore.
Hindustan Unilever: The consumer goods company saw its market cap plunge by Rs 17,962.62 crore to Rs 5,26,684.38 crore.
Infosys: Another major IT player, Infosys, lost Rs 17,086.61 crore from its market valuation, which now stands at Rs 7,53,700.15 crore.
While most of the top firms experienced losses, Reliance Industries and Bajaj Finance bucked the trend.
Reliance Industries saw its market capitalization increase by Rs 14,547.3 crore, reaching Rs 16,61,369.42 crore, while Bajaj Finance added Rs 384.33 crore to its market cap, which now stands at Rs 5,20,466.75 crore.
The Indian stock market is expected to remain volatile in the near term, influenced by global economic factors and domestic policy decisions. Investors are closely watching key economic indicators for cues on future market direction.
The current market conditions highlight the challenges faced by major Indian companies in maintaining their market value amidst global economic uncertainties.
As the market continues to navigate these challenges, companies like TCS will need to adapt and strategize to regain lost ground.
Reliance Industries – Market Cap: Rs 16,61,369.42 crore
TCS – Market Cap: Rs 13,69,717.48 crore
HDFC Bank – Market Cap: Rs 12,94,152.82 crore
Bharti Airtel – Market Cap: Rs 9,34,223.77 crore
ICICI Bank – Market Cap: Rs 8,70,579.68 crore
Infosys – Market Cap: Rs 7,53,700.15 crore
State Bank of India – Market Cap: Rs 6,43,955.96 crore
Hindustan Unilever – Market Cap: Rs 5,26,684.38 crore
Bajaj Finance – Market Cap: Rs 5,20,466.75 crore
ITC – Market Cap: Rs 5,01,750.43 crore
The recent market fluctuations underscore the dynamic nature of the Indian stock market and the need for companies to be resilient in the face of economic challenges.
As the market continues to evolve, investors will be keenly watching how these top firms respond to the current trends.
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