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BUSINESS
TCS recently announced its Q1 FY 26 results, with its consolidated profit after tax (PAT) growing 6 per cent at Rs 12,760 crore.
TCS news: Tata Consultancy Services (TCS) is one of the flagship firms of the Tata Group. The IT firm remains in the news due to several new projects, collaboration and more. However, this week didn't go well for the Tata company. It lost Rs 56,279.35 crore in its market valuation after its shares fell by 4.37 per cent to Rs 3,264.50 in five days from July 7-11. The mcap of TCS declined to Rs 11,81,450.30 crore. Shares of TCS dropped nearly 3.50 per cent on Friday after its June quarter earnings failed to enthuse investors.
TCS emerges as biggest laggard
The combined market valuation of eight of the top 10 valued firms eroded by Rs 2.07 lakh crore (Rs 2,07,501.58 crore) last week, with TCS emerging as the worst hit. This week, the benchmark BSE Sensex dropped 932.42 points or 1.11%. Another Indian IT firm, Infosys, lost Rs 18,818.86 crore in its market cap to Rs 6,62,564.94 crore.
The combined market valuation of eight of the top 10 valued firms, including TCS, eroded by Rs 2.07 lakh crore (Rs 2,07,501.58 crore) this week. Reliance Industries was the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever in that order.
READ | Meet man who earns Rs 10791666 monthly, runs Rs 442000 crore company, not from IIT, IIM
TCS Q1 FY 26 results
TCS reported a 6 per cent rise in its June quarter with a net profit at Rs 12,760 crore. The Tata group company, once led by Ratan Tata, had posted a net profit of Rs 12,040 crore in the corresponding period last year.