Eight of India’s top 10 most-valued firms collectively lost Rs 3.09 lakh crore in market value.
Tata Consultancy Services (TCS), India’s leading IT services company, faced a massive market capitalisation loss of Rs 1.09 lakh crore. The setback comes as the company announced salary hikes for the financial year 2025-26.
The IT giant, which was previously India’s second-most valued company, has now slipped to third place, overtaken by HDFC Bank. The market capitalisation of TCS currently stands at Rs 12.61 lakh crore.
Market-Wide Selloff Hits Top Companies
The fall in TCS’ valuation is part of a broader bearish trend in the Indian stock market. Eight of India’s top 10 most-valued firms collectively lost Rs 3.09 lakh crore in market value. Some of the biggest losers were:
- Infosys, which lost Rs 52,698 crore.
- Bharti Airtel, which saw a decline of Rs 39,230 crore.
- Reliance Industries, India’s most valued company, which shed Rs 38,026 crore.
HDFC Bank, however, bucked the trend. It emerged as the biggest gainer, adding Rs 30,258 crore to reach a market capitalisation of Rs 13.24 lakh crore. Bajaj Finance also posted gains, increasing its valuation by Rs 9,050 crore to Rs 5.30 lakh crore.
Stock Market Bloodbath on Dalal Street
The overall decline in market capitalisation is being driven by multiple factors. Fears of a global trade war, coupled with persistent foreign fund outflows, have caused a major slump in stock prices.
The 30-share BSE Sensex plunged 1,414 points (1.90 per cent) to settle at 73,198.10. At one point, it had dropped as much as 1,471 points. The NSE Nifty also saw a significant decline, falling 420.35 points (1.86 per cent) to 22,124.70.
Since hitting a record peak of 85,978.25 on September 27, 2024, the Sensex has now dropped 12,780.15 points (14.86 per cent). Similarly, the Nifty has fallen 4,152.65 points (15.80 per cent) from its all-time high of 26,277.35. The total market capitalisation of all BSE-listed firms has plummeted by Rs 93.91 lakh crore since last year’s peak.
TCS Salary Hikes in Focus
Despite the market turmoil, TCS is moving ahead with its salary hikes for FY26. The increments are expected to be lower than in previous years, reflecting the cautious stance taken by the IT sector amid global uncertainties.
Reports indicate that the salary hikes will range between 4-8 per cent. These would be the lowest increments in four years.
While the salary hikes aim to boost employee morale, the overall market decline highlights investor concerns about the economic slowdown and challenges facing the IT industry.
Investors Remain Cautious
The ongoing downturn in the Indian stock market has created uncertainty for investors. The sharp fall in valuations of top firms like TCS, Infosys, and Reliance reflects broader economic challenges.
For now, the market remains under pressure. Investors are closely watching global economic trends and domestic policy changes that could impact market sentiment in the coming weeks.
Despite the setbacks, TCS remains a dominant force in the IT sector. The company is expected to navigate these challenges with a focus on long-term growth and stability.
(India CSR)