Narayan Murthy's Infosys hit again, company loses Rs 44226 crore in just 4 days after...

Narayan Murthy's Infosys is the second largest IT company in India. The IT major was in the news for different reasons, including its Work from Office policy and others. Infosys also suffered huge loss in its market cap in just four days (March 10-13). The market capitalisation (mcap) of Infosys dropped by Rs 44,226.62 crore to Rs 6,55,820.48 crore. IT companies were at the forefront in causing losses to investors. Tata Group's TCS valuation tumbled by Rs 35,800.98 crore to Rs 12,70,798.97 crore and slipped to the third place among the country's 10-most valuable companies chart. The stock markets were closed on Friday on the occasion of the Holi festival. Last week, the BSE Sensex benchmark declined 503.67 points or 0.68 per cent, and the NSE Nifty fell 155.3 points or 0.69 per cent.

The combined market capitalisation of five of the top-10 most valued firms declined by Rs 93,357.52 crore, with IT giants Infosys and TCS taking the biggest hit, in line with a weak trend in domestic equities. Besides, Hindustan Unilever, State Bank of India (SBI) and Mukesh Ambani's Reliance Industries saw a decline in their market valuations.

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In contrast, ICICI Bank, HDFC Bank, ITC, Bajaj Finance and Bharti Airtel posted gains. The five firms together added Rs 49,833.62 crore in their market capitalisation. Moreover, Reliance Industries remained the most valued company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Bajaj Finance, ITC, and Hindustan Unilever.

(With inputs from PTI)