Ratan Tata's TCS earns Rs 22215 crore in just 5 days despite...; mcap reaches Rs...

Tata Consultancy Services (TCS) is India's largest IT company by market cap. The Tata Group firm witnessed a surge in its market cap last week despite a bearish trend in domestic equities. The market valuation of TCS jumped Rs 22,215.06 crore to Rs 12,47,190.95 crore in five days from June 9 to 13. It remained the third most valued firm after Reliance Industries Ltd and HDFC Bank. Shares of TCS closed with a Rs 13 gain on Friday at Rs 3,447.40.

TCS recently announced that it is working with NVIDIA to design agentic AI solutions that improve telecom operations and network management. The company added that it helped design a collection of AI-native agents for the telecommunications industry, leveraging its long-standing collaboration with NVIDIA.

Moreover, the combined market valuation of eight of the top-10 most valued firms eroded by Rs 1,65,501.49 crore last week, with HDFC Bank taking the biggest hit, in-line with a bearish trend in domestic equities. The valuation of HDFC Bank tanked by Rs 47,075.97 crore to Rs 14,68,777.88 crore.

Last week, the BSE benchmark tanked 1,070.39 points or 1.30 per cent. Mukesh Ambani's Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Life Insurance Corporation of India (LIC), Bajaj Finance and Hindustan Unilever Ltd faced erosion. The valuation of Reliance Industries dropped by Rs 21,516.63 crore to Rs 19,31,963.46 crore and that of State Bank of India eroded by Rs 18,250.85 crore to Rs 7,07,186.89 crore. In the top-10 list, Reliance Industries Ltd remained the most valued firm followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd.

(With inputs from PTI)

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