Recently, the Indian IT giant, Tata Consultancy Services(TCS) has been in the news for its new policy and salary hikes announcement.
A Bad News For TCS, Just Before The Annual Salary Increments
When it comes to TCs it’s a Tata Group IT firm, which is also India’s largest IT firm which has announced to introduce its annual salary increments in March 2025.
Please note here that the payments will be starting from April.
Prior to this, the company was in the news as the company has received bad news this week.
As it is known that the Indian IT major has lost Rs 53,185.89 crore in market cap this week.
It appears that the company’s shares dropped by 2.82 percent in 5 days (Feb 17-21).
After this loss, presently TCS’s market cap stands at Rs 13,69,717.48 crore.
Following the event, the company share price of the company closed at Rs 3,789.90 on 21 febuary.
TCS seems to be taking the biggest hit with the massive drop in market valuation of TCS comes amid a bearish trend in equities.
Reliance Industries – Turns Out To Be The Most Valued Firm
Similar to TCS, it IT rival Infosys also faced an erosion of Rs 17,086.61 crore to Rs 7,53,700.15 crore from its market valuation.
If we consider the combined market valuation of eight of the top 10 most valued firms in the country including TCS, has eroded Rs 1,65,784.9 crore.
If we consider last week, the BSE benchmark declined 628.15 points, or 0.82 per cent.
Similarly, Nifty also went lower 133.35 points, or 0.58 percent following the declining trends
Contrasting these trends, the mcap of Mukesh Ambani’s Reliance Industries had a bull run from Rs 14,547.3 crore to Rs 16,61,369.42 crore.
With this display, the company remained the most valued firm followed by the other firms such as TCS, HDFC Bank, Bharti Airtel and others.
In case of TCS, the company has reportedly tied salary hikes and variable pay to compliance with its return-to-office (RTO) policy which the company has introduced in early 2024.
