TCS Market Capitalization Plummets by Over Rs 18,000 Crore
Synopsis
Key Takeaways
Mumbai, March 1 (NationPress) The market capitalization of Tata Consultancy Services (TCS) experienced a decline of Rs 18,180.89 crore last week, reducing its overall valuation to Rs 9,53,872.59 crore, as equity markets faced substantial pressure.
During the week, all but one of the top ten most valued firms collectively saw a drop of Rs 2,18,902.09 crore in market valuation, indicating a bearish trend in the stock market.
The BSE benchmark index fell sharply by 1,527.52 points, or 1.84 percent, in the same timeframe.
As per Ajit Mishra, SVP, Research at Religare Broking Limited, the pressures in the equity markets stemmed from ongoing geopolitical tensions and a downturn in technology stocks, which negatively impacted overall investor sentiment.
Among the major decliners, Bharti Airtel faced the steepest drop, with its market cap plunging by Rs 55,852.12 crore to Rs 10,71,853.25 crore.
HDFC Bank also saw a significant reduction of Rs 37,580.1 crore, bringing its valuation to Rs 13,65,659.38 crore.
The market valuation of Reliance Industries decreased by Rs 34,846.12 crore, settling at Rs 18,86,832.66 crore.
Bajaj Finance lost Rs 20,316.41 crore, with its market cap now at Rs 6,20,070.59 crore.
The valuation of Life Insurance Corporation of India (LIC) dropped by Rs 14,990.24 crore to Rs 5,37,213.68 crore, while Larsen & Toubro saw a decline of Rs 13,714.85 crore, bringing its market cap to Rs 5,88,837.39 crore.
State Bank of India lost Rs 13,061.33 crore, reducing its valuation to Rs 11,09,520.23 crore. ICICI Bank also experienced a decrease of Rs 10,360.03 crore, bringing its market cap to Rs 9,86,986.64 crore.
In contrast, Hindustan Unilever emerged as the only gainer among the leading firms, increasing its market valuation by Rs 5,462.81 crore to Rs 5,49,393.18 crore.
Despite the losses, Reliance Industries maintained its status as the most valued company in India, followed by HDFC Bank, State Bank of India, Bharti Airtel, ICICI Bank, and TCS.
The list also features Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.