Mon Feb 24 06:30:00 UTC 2025: ## TCS Suffers Massive Market Cap Loss Amidst Broader Market Downturn
**MUMBAI, INDIA (February 23, 2025)** – Tata Consultancy Services (TCS), India’s largest IT firm, experienced a significant setback this week as its market capitalization plummeted by Rs 53,185.89 crore (approximately $6.4 billion USD), closing at Rs 13.69 lakh crore. This represents a 2.82% drop in share price over five days (February 17-21) and the largest single-day loss for any company last week. The decline comes amidst a broader bearish trend in the Indian equity market, with the BSE benchmark and Nifty indices also experiencing losses.
The company’s shares closed at Rs 3,789.90. While TCS is preparing to announce annual salary increases in March, to be paid in April, this market downturn casts a shadow over the positive news. Other major companies also suffered losses, including Bharti Airtel (Rs 44,407.77 crore drop), and Infosys (Rs 17,086.61 crore drop). The combined market valuation erosion of eight of India’s top ten most valued companies reached Rs 1,65,784.9 crore last week. Despite the loss, Reliance Industries remains the most valuable company in India, followed by TCS. The impact of this market downturn on TCS’s upcoming salary increases remains to be seen.
First Piper 