Ratan Tata's TCS is one of the biggest Indian multinational IT services and consulting companies. It continues to expand its services across the world. However, the IT giant saw a major drop in its market cap last week amid a weak trend in equities. It was among the biggest laggards in the top 10 most-valued firms in India. The valuation of Tata Consultancy Services (TCS) tumbled Rs 37,971.83 crore to Rs 15,49,626.88 crore, the most among the top 10 firms.
The share price of TCS was Rs 4406 on Monday (July 29), but on the 5th day on August 2, it was reduced to Rs 4283 on the NSE. However, the IT company still managed to secure the second spot in the ranking of the most valued firms.
Moreover, eight of the top 10 most-valued firms together lost Rs 1,28,913.5 crore in market valuation last week, with IT majors TCS and Infosys emerging as the biggest laggards. The market capitalisation (mcap) of Infosys tanked Rs 23,811.88 crore to Rs 7,56,250.47 crore.
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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.
(With inputs from PTI)
