TCS took the biggest hit.

TCS news: Tata Consultancy Services (TCS), Tata Group’s IT firm, has recently announced its new policies and updates about salary hikes. TCS is India’s largest IT firm which will present its annual salary increments in March 2025, with payments starting in April.

However, TCS suffered a big blow as during the last week trading, the market valuation of TCS tanked by Rs 53,185.89 crore to Rs 13.7 lakh crore which is the biggest loss by a company as the combined market valuation of eight of the top-10 most valued firms eroded Rs 1,65,784.9 crore last week.

Tata Consultancy Services Ltd. took the biggest hit in line with bearish trends in equities while Bharti Airtel suffered a big drop, with its market capitalization falling by Rs 44,407.77 crore to Rs 9.3 lakh crore.

Last week, the BSE benchmark declined 628.15 points, or 0.82%, while the Nifty went lower 133.35 points, or 0.58%.

Meanwhile, Reliance Industries remained the most valued firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India (SBI), Hindustan Unilever, Bajaj Finance, and ITC.

TCS received a bad news this week as it lost Rs 53,185.89 crore in market cap this week after its shares dropped by 2.82 per cent in 5 days (Feb 17-21). The current market cap of the company stands at Rs 13,69,717.48 crore.

TCS share price closed at Rs 3,789.90. The massive drop in market valuation of TCS comes amid a bearish trend in equities with TCS taking the biggest hit. On the other hand, Infosys lost Rs 17,086.61 crore to Rs 7,53,700.15 crore from its market valuation.