Ratan Tata led companies Market Cap eroded by thousands of crores within a week of share market fall.
Nine of the top-10 most valued firms together lost a whopping Rs 4,74,906.18 crore in market valuation last week. The market capitalisation (mcap) of Ratan Tata led Tata Consultancy Services (TCS) eroded by Rs 21,690.43 crore to Rs 15,37,361.57 crore.
Markets faced heavy drubbing last week amid worsening tensions in the Middle East and foreign fund outflows. In a holiday-shortened week, the BSE benchmark plummeted 3,883.4 points, or 4.53 per cent.
Reliance Industries retained the title of the most-valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC.
TCS Share Price Performance
In the trading session on October 4, 2024, TCS opened at ₹4,225 and reached a high of ₹4,298 before closing at ₹4,252. The stock recorded a low of ₹4,224.05, with a trading volume of over 2.9 million shares. With a market capitalization of approximately ₹1,538,501 crore, TCS remains a dominant player in the Indian IT sector, maintaining its strong position amidst market changes.
TCS Share Financials
TCS holds an enterprise value of ₹1,531,902 crore and has 361.81 crore shares outstanding. The company’s price-to-earnings (P/E) ratio stands at 34.05, while its price-to-book (P/B) ratio is 18.34. Recent financial reports reveal a profit growth of 11.39% and sales growth of 6.31%, indicating steady financial performance. Additionally, TCS has cash reserves of ₹6,599 crore and no debt, highlighting its robust financial standing.
(With Inputs from PTI)
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)