The market cap of Infosys decreased by Rs 1.6 lakh crore and that of TCS by Rs 1.4 lakh crore. Wipro’s market cap fell by around Rs 94,000 crore. Shares of IT majors have seen a fall of 12-31 per cent in the last one year.
In the last one year, there has been a lot of volatility in the stock market. According to a report, the market cap of 10 companies has lost more than Rs 50 thousand crore in the last one year due to the fall in the stock market. Out of which 5 companies are such that are part of Nifty. In this list, not only the names of Adani Group companies are there, but also the names of Reliance Industries and Tata Group companies. Let us also tell you that after all, which are those 10 companies whose market cap has lost more than Rs 14 lakh crore due to the fall.
Bad condition of everyone from Reliance to Tata
Reliance’s market cap has fallen drastically by Rs 1.4 lakh crore in the last 1 year. The stock has fallen about 14 per cent during this period. Out of 50 stocks of Nifty, 3 belong to the technology sector. The market cap of Infosys, Tata Consultancy Services, and Wipro declined because of the recession in the US and Europe and the banking sector. The market cap of Infosys decreased by Rs 1.6 lakh crore and that of TCS by Rs 1.4 lakh crore. Wipro’s market cap fell by around Rs 94,000 crore. Shares of IT majors have seen a fall of 12-31 per cent in the last one year.
Heavy fall in shares of Adani Group companies
At the end of January this year, the report of Hindenburg Research against Adani Group came out, due to which Adani Group’s shares saw a big fall. The market cap of Adani Green Energy fell by more than Rs 3 lakh crore. The market cap of Adani Total Gas and Adani Transmission declined by Rs 1.7 lakh crore and Rs 1.8 lakh crore, respectively. Adani Group’s shares saw a decline of 62-68 percent in the last 1 year.
Big fall in the market of these 10 companies
|company’s name||Market cap decreased by how much (in crores)||One year negative return (in %)|
|Adani Green Energy||3,13,376||68|
|Adani Total Gas||1,69,789||62|
Nayaka and Vedanta also drown
The names of the other two companies included in this list are Vedanta and FSN E-Commerce Ventures. The shares of FSN, the parent company of Nykaa brand, have seen a decline of 59 per cent in the last one year. Because of which the market cap has reduced by Rs 51,000 crore. Similarly, shares of Vedanta have seen a decline of 34 per cent and the company’s market cap has come down by Rs 53,700 crore.
IT sector declined by more than 7 percent
The weak quarterly figures of Infosys and TCS and the forecast of low earnings for FY2024 have brought down the IT index. So far in the year 2023, the IT index has come down by more than 7 percent. In the coming days, its effect can be seen in both the stock and the market of the companies. On the other hand, further decline can be seen in the shares of Vedanta. Experts say that the company is going through a crisis and the shares of the company have come down drastically. If the group is not successful in reducing its debt in the next 6 months, then the crisis may deepen further.