Top 5 IT firms lose ₹47k cr in m-cap on TCS warning
India’s top five technology companies today lost a combined ₹47,000 crore in market-value in morning trade after Tata Consultancy Services warned about weakness in its key banking, financial services, and insurance arm. TCS saw a “sequential loss of momentum” in the segment that constitutes almost 40% of its revenue. Notably, TCS shares fell by 6.54%, the steepest since October 2014.