TCS Salary Hike: Tata Group’s IT giant, TCS, has been making headlines with its new policy and salary hike announcements. As India’s largest IT firm, it plans to implement annual salary increments in March 2025, with payouts beginning in April. However, before that, TCS faced a major setback last week as its market value dropped drastically.
Tata Consultancy Services (TCS) faced a massive loss in market value this week, shedding Rs 53,185.89 crore as its shares dropped 2.82 per cent between February 17-21. The company’s market capitalization now stands at Rs 13.7 lakh crore, making it the biggest loser among all companies. TCS shares closed at Rs 3,789.90.
The overall market downturn saw the combined market value of eight out of the top 10 most valuable companies shrink by Rs 1,65,784.9 crore. TCS took the biggest hit, while Infosys lost Rs 17,086.61 crore, bringing its market valuation down to Rs 7,53,700.15 crore. Bharti Airtel also saw a major drop, losing Rs 44,407.77 crore, reducing its market cap to Rs 9.3 lakh crore.
The stock market faced a bearish trend last week, with the BSE index falling by 628.15 points (0.82%) and the Nifty index declining by 133.35 points (0.58%). Despite the losses, Reliance Industries remains the most valuable company, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever, Bajaj Finance, and ITC.
Why Were IT Stocks Down Today?
The IT sector was the worst performer in the Indian stock market on Monday, following a sharp decline in the US market in the previous session. The drop was driven by inflation concerns linked to Trump’s tariff policies, causing US markets to close significantly lower on Friday.
Consumer sentiment in the US hit a 15-month low, with inflation expected to rise due to additional tariffs. As the world’s largest economy, any economic strain in the US poses a challenge for India’s export-driven sectors, especially IT.