The market capitalization of IT major Tata Consultancy Services (TCS) is now almost equal to the combined market value of contemporary three large IT services firms namely- Infosys, Wipro and HCL Technologies. Also, at Friday’s fall, Infosys’ stock price fell about 9% and TCS’ current market cap (Rs 4.81 lakh crore) is now about double the market value of Infosys'( Rs 2.46 lakh crore), according to Bombay Stock Exchange data. The approximate number for Wipro and HCL Tech is Rs 1.37 lakh crore and Rs 1.01 lakh crore repectively.
In Friday’s market, the sell-off in Infosys was the main reason for the 106-point fall in the sensex. TCS and Wipro too were among the next two. Infosys cut its full-year revenue estimate, the stock fell as much as 10% initially and settled nearly 9% down at Rs 1,072. In comparison, TCS lost 3.1% to Rs 2,442, Wipro 2.8% to Rs 555 while HCL Tech lost 1.4% to Rs 717.
