Tata Consultancy Services (TCS), the IT company of the Tata Group, has announced new policies and updates about salary increases. TCS, which is India’s largest IT company, will give its annual salary hikes in March 2025, with payments starting in April.
However, TCS faced a major setback last week as its market value dropped by Rs 53,185.89 crore, falling to Rs 13.7 lakh crore. This is the biggest loss by any company. In total, the market value of eight of the top 10 most valuable companies dropped by Rs 1,65,784.9 crore last week.
Tata Consultancy Services Ltd. suffered the biggest loss, following a downward trend in the stock market. Bharti Airtel also saw a big drop, with its market value falling by Rs 44,407.77 crore to Rs 9.3 lakh crore.
Last week, the BSE index dropped by 628.15 points, or 0.82%, and the Nifty index fell by 133.35 points, or 0.58%.
Reliance Industries is still the most valuable company, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India (SBI), Hindustan Unilever, Bajaj Finance, and ITC.
Unfortunately, this week, TCS faced bad news as its market value dropped by Rs 53,185.89 crore after its shares fell by 2.82% between February 17-21. The current market value of TCS is Rs 13,69,717.48 crore.
TCS shares closed at Rs 3,789.90. The big drop in TCS’s market value happened during a downward trend in the stock market, with TCS taking the biggest loss. Meanwhile, Infosys lost Rs 17,086.61 crore, bringing its market value down to Rs 7,53,700.15 crore.
Also read: India’s Forex Reserves Snap 3-Week Gains; Decline $2.5 Billion In Latest Week
