Infosys And TCS Caused A Loss Of More Than 46 Thousand Crores To Investors
Infosys and TCS caused a loss of more than 46 thousand crores to investors and profit in these companies.
Last week Indian stock market suffered a heavy loss. The market capitalization of five of the top 10 companies registered a loss of Rs 86, 447.12 crores. Of these, Infosys and TCS have suffered the most.
During this, a declining trend was also observed in the market. The BSE index Sensex saw a decline of 462.8 points or 0.79 percent and due to this, the Sensex closed at 57,527. Closed on 10 points.
Apart from Infosys and TCS, Reliance Industries, HDFC Bank, Infosys and State Bank of India (SBI) were among the losers.
Market valuations of ICICI Bank, Hindustan Unilever Limited, ITC, HDFC, and Bharti Airtel have increased.
Which company suffered how much loss?
Infosys’s market capitalization declined by Rs 25,217.2 crore to Rs 5,72,687.97 crore, and State Bank of India’s market capitalization declined by Rs 21,062.08 crore to Rs 4,51,228.38 crore.
TCS’s market capitalization declined by Rs 21,039.55 crore to Rs 11,42,154.59 crore.
Reliance Industries market capitalization of 13,226.53 crores declined to Rs 14,90,775.40 crore and the market capitalization of HDFC Bank declined by Rs 5,901.76 crore to Rs 8,71,416.33 crore.
How much profit do the companies earn?
ICICI Bank added Rs 10,905.18 crore, bringing its market valuation to Rs 594,888.25. Hindustan Unilever’s market capitalization increased from Rs 7,542.19 crore to Rs 582,816.11 crore.
ITC’s M-cap increased from Rs 3,664.01 crore to Rs 470,360.22 crore, Bharti Airtel’s M-cap increased by 2,787.57 Rs crore to Rs 4,24,964 and 6.
HDFC’s M-cap increased by Rs 384.89 crore (Rs 469,845.34).
Top 10 domestic enterprises.
RIL is the Biggest company in the country by market valuation, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, HDFC, State Bank of India, and Bharti Airtel.
The maximum GST rate is set for Pan Masala and tobacco, and cess is levied based on retail price.
The central government has set maximum GST refund limits for pan masala, cigarettes, and other tobacco products.
It was also tied to the highest retail price. The maximum tax rate is set under the Finance Law 2023 Amendment, passed in the Lok Sabha on Friday.
Under the amendment, the maximum GST refund for pan masala will now be 51% of the retail market value. The current tax is 135% of the closing value.