Market valuation of 6 of top 10 firms soars by Rs 1,18,626.24 crore
The combined market valuation of six of the top 10 valued firms in the last week soared by Rs 1,18,626.24 crore. Tata Consultancy Services (TCS) stole the show with maximum gains.
The combined market valuation of six of the top 10 valued firms in the last week soared by Rs 1,18,626.24 crore. Tata Consultancy Services (TCS) stole the show with maximum gains.
IT services major Tata Consultancy Services (TCS) has delayed salary hikes, as the management remained uncleared on the increment cycle amid global uncertainty arising due to US tariffs.
The combined market value of seven out of the top ten most valued companies in India increased by Rs 2,10,254.96 crore last week.
The combined market valuation of eight of the top 10 most valued firms eroded by Rs 3,09,244.57 crore last week.
Last week, the combined market valuation of six of the top 10 valued domestic firms eroded by Rs 1.71 lakh crore.
Reports suggest that the TATA sons had released the pledge on March 25 and March 26 in these firms.
Following the large-cap markets, the broader markets also plunged with MidCap and SmallCap closing at 1.3 and 1.6 per cent down respectively.
It said TCS grew in a challenging year when the brand value of IT services companies collectively dropped by 3 per cent.
During the afternoon trade, the market valuation of Reliance Industries Ltd (RIL) was at Rs 12,42,593.78 crore on the BSE.
On the other hand, laggards included HCL Tech, dropped nearly 3 per cent, followed by Axis Bank, Asian Paints, UltraTech Cement and Infosys.
