Ratan Tata's TCS earns Rs 24114 crore in just 72 hours amid delay in annual salary hikes

TCS news: Tata Group's IT firm, TCS, has been in the news due to the delay in annual salary hikes for employees. Announcing this decision, TCS cited global economic uncertainty and tariff concerns for the move, saying the company will decide on wage hikes during this year. Now, this week from April 15 to 17 (72 hours), TCS earned Rs 24,114.55 crore after its market cap surged by the same amount. The share price of the company closed at Rs 3,297.40 on Thursday. The market capitalisation (mcap) of Tata Consultancy Services (TCS) soared to Rs 11,93,588.98 crore. Markets witnessed a robust recovery and surged over 4.5 per cent in the holiday-shortened week -- April 14 (Ambedkar Jayanti) and April 18 (Good Friday). During three days (72 hours), the BSE benchmark Sensex jumped 3,395.94 points or 4.51 per cent, and the NSE Nifty surged 1,023.1 points or 4.48 per cent.

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Moreover, the market cap of the top-10 most valued firms jumped Rs 3.84 lakh crore, with HDFC Bank and Sunil Mittal's Bharti Airtel emerging as the biggest gainers. The market valuation of HDFC Bank zoomed by Rs 76,483.95 crore to Rs 14,58,934.32 crore, the most among the top-10 firms. Bharti Airtel added Rs 75,210.77 crore, taking its valuation to Rs 10,77,241.74 crore. Mukesh Ambani's Reliance Industries' market valuation surged by Rs 74,766.36 crore to Rs 17,24,768.59 crore. Reliance Industries remained the most valued domestic firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and ITC.

(With inputs from PTI)