Three Of Top-10 Companies Lose Rs 1 Lakh Crore In Market Cap; TCS Hit Hard
Three of the 10 most valued Indian companies together witnessed an erosion of Rs 1,07,026.12 crore in market capitalisation last week, with IT major Tata Consultancy Services Ltd. taking the biggest knock.
TCS, ITC Ltd. and Infosys Ltd. suffered a decline in their valuation for the week ended Friday, whereas Reliance Industries, HDFC Bank Ltd., Hindustan Unilever Ltd., HDFC, SBI, Kotak Mahindra Bank Ltd. and Maruti Suzuki India Ltd. finished with gains.
The cumulative erosion suffered by the three companies was higher than the combined gain of Rs 97,498.38 crore made by the rest of the seven firms.
The valuation of TCS nosedived by Rs 85,330.17 crore to Rs 7,19,857.48 crore.
Shares of TCS on Friday ended over 3 percent lower even as the company reported a 22.6 percent jump in consolidated net profit for the July-September quarter.
The market capitalisation of Infosys slumped Rs 18,696.68 crore to Rs 2,96,635.05 crore and that of ITC fell by Rs 2,999.27 crore to Rs 3,36,285.40 crore.
From the gainers side, Reliance Industries Ltd. emerged as the biggest winner as its market cap soared by Rs 48,524.59 crore to Rs 7,13,965.75 crore.
Kotak Mahindra Bank's valuation jumped Rs 22,130.78 crore to Rs 2,23,005.06 crore and that of Maruti surged Rs 11,782.63 crore to Rs 2,20,006.42 crore.
The market cap of State Bank of India zoomed Rs 4,953.14 crore to Rs 2,35,029.01 crore and that of HDFC Bank Ltd. rose by Rs 4,388.24 crore to Rs 5,37,729.17 crore.
HDFC Ltd. added Rs 3,727.52 crore to reach Rs 2,94,247.71 crore in market valuation and HUL gained Rs 1,991.48 crore to Rs 3,39,557.66 crore.
Over the last week, the Sensex climbed 366.59 points to close at 34,733.58 on Friday.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
