In a shocking turn of events, eight of India’s top 10 most valued companies have seen their market capitalization (mcap) plummet by a whopping Rs 1.65 trillion. The biggest loser was Tata Consultancy Services (TCS), which alone accounted for a massive loss of Rs 45,946.7 crore.
The other seven companies that took a hit were Reliance Industries, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, and State Bank of India. Only two companies, Bharti Airtel and ITC, managed to buck the trend and saw their market cap increase.
This massive erosion in market cap is a significant setback for India’s top companies and investors alike.
