Ratan's TCS loses Rs 17710 crore in 5 days due to...; market value reaches Rs...

TCS news: Tata Group's IT firm, TCS, lost Rs 17,710.54 crore in market value last week after its shares declined by Rs 20.80 (from May 19-23). The market cap of the firm declined to Rs 12.71 lakh crore on Friday (May 23). The fall came amid a broader weakness in the stock market. Once led by Ratan Tata, TCS is India's second-largest company by market capitalisation.

Overall, six of the top-10 most valuable firms saw their combined market capitalisation erode by Rs 78,166.08 crore. Mukesh Ambani's Reliance Industries was the biggest loser among India's top 10 most valued companies this week, as its market valuation dropped by Rs 40,800.4 crore. The decline was in line with a sluggish week for Indian equities. The Sensex fell by 609.51 points or 0.74 per cent, while the Nifty dropped 166.65 points or 0.66 per cent.

Apart from Reliance and TCS, other major firms that saw their valuations decline included Infosys, ICICI Bank, State Bank of India (SBI), and Hindustan Unilever. Infosys declined by Rs 10,488.58 crore. Hindustan Unilever's mcap fell by Rs 5,462.8 crore, ICICI Bank's by Rs 2,454.31 crore, and SBI's by Rs 1,249.45 crore.

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Meanwhile, four companies from the top-10 pack -- Bharti Airtel, Bajaj Finance, ITC, and HDFC Bank -- ended the week with gains. Bharti Airtel's market value rose the most, by Rs 10,121.24 crore. The Indian stock markets ended the week on a subdued note, as investors grappled with global uncertainties and awaited key domestic developments.

The benchmark indices witnessed volatility, with the Sensex and Nifty oscillating within a narrow range before closing marginally lower. The Nifty had settled at 24,853.15, while the Sensex ended at 81,721.08, reflecting cautious investor sentiment. According to market watchers, the muted performance was driven by a combination of global and domestic factors.

(With inputs from IANS)