TCS Share Price Live Updates: TCS Stock Performance Overview
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Mint
2 hours ago
- Mint
Market capitalisation of top 10 valued companies plummets by ₹1.36 lakh crore, Reliance worst hit
A bearish drag on equities pulled the cumulative market capitalisation (m-cap) of the top 10 most valued companies in India sharply by ₹ 1.36 crore ( ₹ 1,36,151.24 crore) over the past week, with conglomerate Reliance Industries (RIL) taking the worst hit, according to a report by PTI. Extending losing streak for the sixth consecutive week, the BSE benchmark index, Sensex, dropped 742.12 points or 0.92 per cent, and the NSE Nifty declined 202.05 points or 0.82 per cent. Despite the valuation drop, RIL remains the most valued company in the country, followed by private sector lender HDFC Bank, IT company Tata Consultancy Services (TCS), telecom major Bharti Airtel, banking major ICICI Bank, public sector lending leader State Bank of India (SBI), IT giant Infosys, FMCG leader Hindustan Unilever (HUL), insurance behemoth Life Insurance Corporation of India (LIC), and financing major Bajaj Finance. From the top 10 pack, Reliance, HDFC Bank, Airtel, ICICI Bank, Infosys and HUL faced erosion in their valuations, the report added. RIL valuation tumbled ₹ 34,710.8 crore to ₹ 18,51,174.59 crore. 34,710.8 crore to 18,51,174.59 crore. HDFC Bank's mcap tanked ₹ 29,722.04 crore to ₹ 15,14,303.58 crore. 29,722.04 crore to 15,14,303.58 crore. The mcap of ICICI Bank fell by ₹ 24,719.45 crore to ₹ 10,25,495.69 crore. 24,719.45 crore to 10,25,495.69 crore. Infosys value dropped by ₹ 19,504.31 crore to ₹ 5,91,423.02 crore. 19,504.31 crore to 5,91,423.02 crore. The valuation of Bharti Airtel declined by ₹ 15,053.55 crore to ₹ 10,59,850.32 crore. 15,053.55 crore to 10,59,850.32 crore. HUL lost ₹ 5,87,021.88 crore to tumble to ₹ 12,441.09 crore. Meanwhile, among the top 10, TCS, SBI, LIC, and Bajaj Finance were the gainers. The mcap of LIC jumped ₹ 17,678.37 crore to ₹ 5,77,187.67 crore. 17,678.37 crore to 5,77,187.67 crore. The valuation of TCS climbed ₹ 11,360.8 crore to ₹ 10,97,908.66 crore. 11,360.8 crore to 10,97,908.66 crore. SBI added ₹ 9,784.46 crore, taking its valuation to ₹ 7,42,649.34 crore. 9,784.46 crore, taking its valuation to 7,42,649.34 crore. Bajaj Finance went up by ₹ 186.43 crore to ₹ 5,45,148.52 crore. (With inputs from PTI)
Time of India
5 hours ago
- Time of India
Policy dilemma: ‘We need to think hard' on whether Russian oil imports are worth it; Nobel laureate Abhijit Banerjee links issue to US tariff removal
Nobel laureate Abhijit Banerjee has said India should reassess whether importing cheap oil from Russia is 'worth it' after the Trump administration imposed an additional 25 per cent tariff on Indian goods, taking the total levy to 50 per cent — one of the highest by the US on any country. The latest tariff hike, signed by US President Donald Trump through an executive order, will take effect on August 27 and is linked to New Delhi's purchases of Russian crude. 'We need to think hard about whether Russian oil imports are worth it and then go back to the US to say that, you know, will they take it (tariff) off, if we stop importing Russian oil,' Banerjee told PTI on the sidelines of an event organised by BML Munjal University. India is the largest importer of Russian crude, buying 1.6 million barrels per day in July. However, refiners have not placed orders for August and September as discounts that initially encouraged the imports have narrowed to around $2 a barrel. In FY25, India imported 88 million tonnes of crude from Russia out of total shipments of 245 million tonnes. Since the higher tariffs are expected to hit $27 billion of non-exempt Indian exports to the US, there is discussion in policy circles about stopping or curtailing Russian oil imports. 'It is not crazy to think about it. At a 25 per cent tariff, some of our exports are already not competitive, so maybe 50 per cent does not matter,' Banerjee said. Oil companies typically finalise import contracts about two months ahead, meaning supplies for August and September were already arranged before Trump's August 7 announcement. The US-India bilateral trade deal remains stalled over Washington's demand for greater access to Indian agricultural and dairy markets. On India's investment restrictions on China under Press Note 3 of 2020, introduced after the Galwan clash, Banerjee said, 'Maybe we should combine that with trade negotiations with China. I think it is a good moment to do it. The Chinese also need to think of how they will deal with the US, and what leverage points they have.' The rule mandates prior government approval for FDI from countries sharing a land border with India. Banerjee said India should also consider joining the ASEAN trading bloc but noted, 'I think China is much more important than ASEAN.' On the economy, he said growth this year will be 'not as good as we expected', with the middle class under strain and private investments stagnant. 'Companies like TCS are not hiring, the salary of IT employees is not increasing... These are all issues we have not dealt with, and we are sitting on them, so we need to kind of embrace the fact,' he added. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
8 hours ago
- Time of India
TCS layoffs mark end of one IT era, and the start of another
'The future is already here; it's just not evenly distributed,' goes the famous quote. Well, neither are job losses — or so the 12,000 laid-off employees of TCS might be ruefully thinking as they packed their personal effects, while simultaneously reading about the $100m salaries that Mark Zuckerberg was dangling to lure AI researchers to his company. There has been a spate of layoffs in tech companies, with Microsoft firing 15,000 employees, Intel 5,000, and Meta and Amazon joining the party. Much of the losses were ascribed to AI, which is driving workforce efficiencies and empowering one human to do the job of many. Till now, most of the layoffs were happening in far-off places like the US and Europe, but the TCS announcement that it was letting go 2% of the workforce brought this phenomenon closer home. Companies like TCS have traditionally been seen as a safe harbour, the closest to a 'govt job' in terms of stability and tenure. It had remained so through the dotcom bust, the financial crisis and others. But now, with the advent of AI, the myth seems to be busted. While TCS is the most prominent example, it is not alone. Big consulting firms are 'streamlining' their workforce, other big IT services firms are making disturbing noises, and job portals are teeming with tech workers' resumes. TCS has gone to great lengths to not pin the blame on AI. But the subtext of terms like 'a skill mismatch' and 'future-ready' is hard to ignore. In many ways, this has been a long time coming. The IT services model of cost-arbitrage, deploying vast armies of coders and consultants at lower cost, has been in its twilight era for a while. AI just accelerated the trend, disrupting the existing linear model where more projects meant hiring more people. Now, a human analyst and a few AI agents working together can potentially do what ten analysts once did. In its place, a new kind of IT services firm is emerging — leaner, AI-native, and outcome-focused. These firms will not hire a thousand freshers to handle client reports or debug software, but deploy a small team of AI-literate experts and a suite of autonomous agents to do the job faster, cheaper, and often better. We are seeing early glimpses already, with new services startups using agents like Cursor or Devin, legal firms operating with Harvey, and research teams powered by Perplexity and NotebookLM. The societal impact of this transition in India will be immense. The whole education model of training young people in STEM skills to then place them in some IT company ensuring a stable career with a decent salary is under threat. However, this tectonic shift presents as great an opportunity as the magnitude of the threat. This is especially true for younger, entry-level employees, since 'breaking first is the bottom rung of the career ladder' as Aneesh Raman, the chief economic opportunity officer at LinkedIn, wrote. However, with every crisis, including this one, comes great opportunity. These are five things I believe young people should do in this inevitable age of AI: Leapfrog with AI: The definition of literacy now includes the ability to work fluently and naturally with AI tools and agents. If you know how to, you can take AI's help to do jobs the seniors traditionally did and jump straight to the second or third rung of the job ladder. In a recent post, for example, a tech founder offered a programmer with 2-5 years of experience a Rs 1 crore salary — qualifications and experience were not important, just the use of AI to code. Study humanities with STEM: Prompting is about knowledge, creativity, critical thinking, literature and grammar — core humanities skills. As answers become a commodity with AI, questions or 'prompts' will become the differentiator. Don't just join a company, build one: There has been no better time to create a company with AI tools, agents, and 'vibe coding' available to everyone. It is the age of one-person unicorns — one human and a thousand AI agents building billion-dollar startups. Build a career portfolio: Don't do just one thing. Be a product designer who also writes; a digital marketer who teaches music; a coder who also runs a pet shop. With AI, one company, many employees will give way to one employee with many companies. Build your personal brand: Do not depend on where you work for your identity; leverage AI to build your own through the talents you have or learn. You will never be out of paying work. As Microsoft CEO Satya Nadella put it: 'AI is not here to replace humans. It is here to remove the barriers that prevent humans from doing their best work.' This crisis gives us the opportunity to do precisely that. (Jaspreet Bindra is the founder of AI&Beyond. His latest book is 'Winning With AI: Your Guide to AI Literacy') Facebook Twitter Linkedin Email Disclaimer Views expressed above are the author's own.
