Market valuation of six of top 10 valued domestic firms erode by Rs 1.71 lakh crore
Last week, the combined market valuation of six of the top 10 valued domestic firms eroded by Rs 1.71 lakh crore.
Last week, the combined market valuation of six of the top 10 valued domestic firms eroded by Rs 1.71 lakh crore.
The combined market valuation of five of the top-10 most-valued firms tumbled Rs 1,85,952.31 crore last week.
The company's consolidated revenue increased 5.6 per cent to Rs 63,973 crore during the quarter.
IT services major Tata Consultancy Services (TCS) on Thursday reported a drop in its employee headcount by 5,370 in the third quarter this fiscal (Q3 FY25), which is a reversal after two consecutive quarters of headcount growth.
The stock of Reliance Industries Limited (RIL), India's largest company by market capitalisation, has slipped by 23 per cent from its highest level in July this year.
This was in line with a bearish trend in equities, where Tata Consultancy Services (TCS) and Reliance Industries faced the sharpest erosion.
The broader market's focus will be on the RBI's Monetary Policy Committee (MPC), which is scheduled to meet from October 7 to 9, with the outcome to be announced on Wednesday, October 9.
At 9.39 a.m., Sensex was up 687 points or 0.83 per cent at 83,635 and Nifty was up 197 points or 0.78 per cent at 25,575.
Nine of the top-10 most valued firms together added Rs 2,01,552.69 crore in market valuation last week.
Last week, the combined market valuation of nine of the top 10 most valued firms jumped by Rs 95,522.81 crore. Reliance Industries, TCS and HUL emerged as the biggest gainers.
