TCS’ market cap falls over Rs 90,000 crore this week

Mumbai, Feb 15 (IANS) The market valuation of Tata Consultancy Services (TCS) tumbled by Rs 90,198.92 crore to Rs 9,74,043.43 crore this week, emerging as the biggest laggard among India’s top companies amid a broader bearish trend in equities.

The combined market capitalisation of six of the top 10 most valued firms declined by more than Rs 3 trillion during the week, as stock markets remained under pressure.

The BSE benchmark index fell by 953.64 points, or 1.14 per cent — reflecting weak investor sentiment.

Among the major losers were TCS and Infosys, both of which saw sharp erosion in their valuations.

Infosys’ market capitalisation dropped by Rs 70,780.23 crore to Rs 5,55,287.72 crore. The decline in IT stocks weighed heavily on overall market performance.

Private sector lender HDFC Bank also saw its valuation fall by Rs 54,627.71 crore to Rs 13,93,621.92 crore.

The market cap of Reliance Industries plunged by Rs 41,883 crore to Rs 19,21,475.79 crore.

The valuation of Life Insurance Corporation of India declined by Rs 23,971.74 crore to Rs 5,46,226.80 crore, while Bharti Airtel lost Rs 19,244.61 crore in market value, taking its total mcap to Rs 11,43,044.03 crore.

However, not all companies ended the week in the red. The market capitalisation of State Bank of India jumped sharply by Rs 1,22,213.38 crore to Rs 11,06,566.44 crore, making it the biggest gainer among the top firms.

The valuation of Bajaj Finance rose by Rs 26,414.44 crore to Rs 6,37,244.64 crore. Engineering major Larsen & Toubro added Rs 14,483.9 crore to reach a market cap of Rs 5,74,028.93 crore.

ICICI Bank also saw gains, with its valuation increasing by Rs 5,719.95 crore to Rs 10,11,978.77 crore.

Despite the weekly decline, Reliance Industries retained its position as the most valued company in India.

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 10 most valued firms.

–IANS

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