Months after Ratan Tata’s death, Noel Tata’s TCS loses Rs 11,93,769 crore in just…, reason is…
Huge loss for Ratan Tata’s TCS: In one of the biggest setbacks for Noel Tata’s Tata Consultancy Services, TCS, one of the top IT companies in India, the market valuation of TCS tumbled to Rs 11,93,769.89 crore, making a total loss of Rs 1,10,351.67 crore in a week’s time. Here are all the details you should know about the recent loss to TCS.
The huge loss to TCS in its mcap came after TCS shares fell by 6.90 per cent and closed at Rs 3,304.85 on Friday (April 4). For a detailed market standing, the market cap of TCS is Rs 11,93,769.89 crore as of date and as a result of the recent developments, Tata Consultancy Services (TCS) became the biggest laggard among the top 10 Indian companies.
From the top-10 pack, Tata Consultancy Services (TCS), Reliance Industries, Infosys, Bajaj Finance, ICICI Bank, HDFC Bank, Hindustan Unilever Ltd, State Bank of India and ITC faced erosion from their market valuation. Bharti Airtel emerged as the only gainer.
Market valuation of TCS tumbles
The market valuation of TCS tumbled by Rs 1,10,351.67 crore to Rs 11,93,769.89 crore. The valuation of index bellwether Reliance Industries tanked by Rs 95,132.58 crore to Rs 16,30,244.96 crore and that of Infosys plunged by Rs 49,050.04 crore to Rs 6,03,178.45 crore.
Bajaj Finance’s market capitalisation (mcap) declined by Rs 14,127.07 crore to Rs 5,40,588.05 crore and that of ICICI Bank dropped by Rs 9,503.66 crore to Rs 9,43,264.95 crore. Private sector lender HDFC Bank’s valuation diminished by Rs 8,800.05 crore to Rs 13,90,408.68 crore and that of Hindustan Unilever Ltd dipped by Rs 3,500.89 crore to Rs 5,27,354.01 crore.
Market capitalisation of SBI goes down
The market capitalisation (mcap) of the State Bank of India slumped by Rs 3,391.35 crore to Rs 6,85,232.33 crore and that of ITC slipped by Rs 312.85 crore to Rs 5,12,515.78 crore. However, the mcap of Bharti Airtel climbed Rs 7,013.59 crore to Rs 9,94,019.51 crore
(With inputs from agencies)
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