In a major jolt to investors, Tata Consultancy Services (TCS) witnessed a dramatic crash in its share value, erasing ₹6,550 crore in market wealth within just 15 minutes of trading on Tuesday. The steep fall comes on the back of a ₹20,000 crore loss on Monday, after the IT giant announced plans to lay off 12,000 employees.
The market reacted sharply to TCS’s downsizing news, leading to panic selling among investors. As a result, the company’s market capitalization plunged to ₹11.07 lakh crore in early trade.
The layoffs, which are expected to affect both domestic and global operations, have shaken investor confidence, raising concerns about the company’s future growth strategies amidst a global economic slowdown. The IT sector has been grappling with rising costs and shrinking client budgets, forcing firms to take tough measures like workforce reductions.
Experts suggest that the sharp correction in TCS’s stock price is not just a reaction to the layoffs but also reflects broader fears about the overall IT sector’s performance in the coming quarters.
Investors and employees alike are now anxiously waiting for TCS’s next move to stabilize the situation.
Author: Bihar Desk
मुख्य संपादक (Editor in Chief)
