Probe into TCS Nashik case expands as investigators examine claims of systematic targeting, internal lapses and wider misconduct, with political reactions intensifying across Maharashtra.
The combined market valuation of six of India’s top 10 most valued companies declined by more than Rs 3 lakh crore last week, reflecting a broader bearish trend in the equity markets.
The company has attributed its Q3 FY26 PAT decline to a one-time charge related to the labour code and legal claims, along with restructuring expenses in a statement.
Last week, the market valuation of seven of the top10 most valued firms eroded by Rs 88,635.28 crore in a holiday-shortened week.
Last week, the combined market valuation of 6 of the top 10 most valued firms declined by Rs 94,433.12 crore. BSE benchmark tumbled 742.74 points or 0.90 per cent.
These companies said they are not backfilling most attrition, which is in the 14% range on the past 12-month basis for them.
It posted a marginal increase in reported post-tax profit at Rs 32,430 crore for FY21, despite a 4.6 per cent jump in revenue to Rs 1.64 lakh crore in the last fiscal.
It said TCS grew in a challenging year when the brand value of IT services companies collectively dropped by 3 per cent.
The TCS board is also slated to consider its financial results for the September quarter and declaration of a second interim dividend to the equity shareholders at that meeting.
In October 2014, EPIC had filed a legal claim against TCS in the court of Western District Madison, Wisconsin alleging infringement of Epic''s proprietary information.
