Tata Consultancy Services (TCS), India’s largest IT firm and a part of the Tata Group, recently announced updates regarding its annual salary hikes. The company is set to roll out salary increments in March 2025, with payments beginning in April. However, amid these developments, TCS has taken a massive financial hit in the stock market.
TCS Market Valuation Drops by ₹53,185 Crore
During last week’s trading session, TCS saw its market capitalization erode by ₹53,185.89 crore, bringing its total valuation down to ₹13.7 lakh crore. This sharp decline makes TCS the biggest loser among India’s top-10 most valued companies, which collectively lost ₹1,65,784.9 crore in market valuation last week.
The drop in TCS’s stock price followed a bearish trend in the equity markets, significantly impacting major companies. Bharti Airtel also suffered a major setback, with its market capitalization plummeting by ₹44,407.77 crore to ₹9.3 lakh crore.
Stock Market Trends & TCS’s Performance
Last week, the BSE benchmark index fell by 628.15 points (0.82%), while the Nifty index dropped by 133.35 points (0.58%). The bearish sentiment weighed heavily on IT stocks, with TCS experiencing a 2.82% decline in its share price between February 17-21. As a result, its market cap currently stands at ₹13,69,717.48 crore.
TCS share price closed at ₹3,789.90, reflecting the sharp drop in valuation. Meanwhile, Infosys also witnessed a loss of ₹17,086.61 crore, bringing its market cap down to ₹7,53,700.15 crore.
Top Valued Companies in India
Despite the losses, Reliance Industries remains India’s most valued company, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India (SBI), Hindustan Unilever, Bajaj Finance, and ITC.
Impact on TCS Employees & Investors
With the company set to implement salary hikes in March, investors and employees are keenly watching how TCS navigates this financial setback. While long-term growth prospects remain strong, the current market downturn raises concerns over short-term stability in the IT sector.
Stay tuned for more updates on stock market trends and TCS’s performance!