TCS’s value drops by Rs 37,971 crore
By MYBRANDBOOK
Amidst a negative stock trend, Ratan Tata's TCS witnessed a significant decline in its market capitalisation last week. Within the top 10 most valuable corporations in India, it was one of the largest laggards. Tata Consultancy Services (TCS) saw the biggest decline in valuation among the top 10 companies, falling from Rs 37,971.83 crore to Rs 15,49,626.88 crore. The IT corporation did, however, succeed in attaining the second place in the list of the most valuable companies.
In the ranking of the most valued firms, Mukesh Ambani's Reliance Industries retained the number one rank followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.
Eight of the top-10 most valued companies lost Rs 1.28 lakh crore in combined market valuation last week. The market capitalisation (m-cap) of Infosys tanked Rs 23,811.88 crore to Rs 7,56,250.47 crore.
ITC’s valuation dropped by Rs 16,619.51 crore to Rs 6,11,423.11 crore, while that of State Bank of India (SBI) slumped by Rs 13,431.54 crore to Rs 7,56,717.85 crore.
The valuation of Reliance Industries Limited (RIL) declined by Rs 13,125.49 crore to Rs 20,28,695.57 crore.
The country’s second largest telecom player, Bharti Airtel, saw its market valuation fall by Rs 11,821.5 crore to Rs 8,50,389.88 crore.
ICICI Bank lost Rs 7,843.75 crore from its overall valuation taking it to Rs 8,42,176.78 crore.
The valuation of Hindustan Unilever (HUL) dipped by Rs 4,288 crore to Rs 6,32,862.41 crore.
However, the country’s largest private sector lender HDFC Bank saw a jump of Rs 32,759.37 crore in m-cap to Rs 12,63,601.40 crore.
The valuation of Life Insurance Corporation of India (LIC) soared Rs 1,075.25 crore to Rs 7,47,677.98 crore.
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