Infosys may delay annual salary hike over global uncertainties
IT major Infosys has reportedly deferred the annual salary hike in the fourth quarter of FY 2024-25. The company last implemented a salary hike in November 2023.
The combined market valuation of four of the top10 most valued firms eroded by Rs 96,605.66 crore last week.
Reliance Industries, Bharti Airtel, Infosys, ITC, Life Insurance Corporation of India (LIC) and Hindustan Unilever were the winners together adding Rs 82,861.16 crore in combined market valuation.
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HDFC Bank took the biggest hit and Tata Consultancy Services (TCS), ICICI Bank and State Bank of India were among others who suffered erosion.
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Reliance Industries retained the title of the most valued firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, ITC, LIC, and Hindustan Unilever.
The market valuation of HDFC Bank tumbled Rs 37,025.46 crore to Rs 13,37,919.84 crore while ICICI Bank’s valuation slumped Rs 29,324.55 crore to Rs 8,93,378.50 crore.
State Bank of India declined Rs 5,399.39 crore to Rs 7,08,168.60 crore while the mcap of LIC jumped Rs 13,282.49 crore to Rs 5,74,689.29 crore.
The valuation of Hindustan Unilever soared Rs 15,331.08 crore to Rs 5,65,194.18 crore and ITC climbed Rs 3,878.63 crore to Rs 6,03,064.44 crore.
Infosys zoomed Rs 9,031.19 crore to Rs 8,04,834.34 crore while TCS tanked Rs 24,856.26 crore to Rs 14,83,144.53 crore.
The valuation of Hindustan Unilever soared Rs 15,331.08 crore to Rs 5,65,194.18 crore and ITC’s valuation climbed Rs 3,878.63 crore to Rs 6,03,064.44 crore.
Last week, the BSE benchmark jumped 524.04 points, or 0.66%, and the Nifty climbed 191.35 points, or 0.80 per cent.
On Friday, the Sensex was down 720.60 points or 0.90 per cent at 79,223.11, and the Nifty was down 183.90 points or 0.76 per cent at 24,004.75.
Nifty was dragged almost below the crucial 24,000 level with selling in the IT, Pharma and Banking names while buying in media and oil & gas.
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