Tata Consultancy Services
Chandrasekaran’s leadership. With a current market cap of ₹43,728.9 crore, Tata Motors has plunged 59% in the period. The auto maker has been under pressure because of its British luxury unit Jaguar Land Rover (JLR).
Tata Motors posted the biggest quarterly loss in India’s corporate history in the December quarter owing to an impairment charge for JLR, following which its shares plunged as much as 22.4% on February 8, the auto maker’s biggest single-day drop since February 1993, which led to many brokerages slashing its target price.
Tata Motors reported a consolidated loss of ₹26,993 crore after its biggest ever write-off of £3.10 billion for JLR. The write-off has been attributed to slowing sales in China and disruptions from a shift towards eco-friendly hybrid and electric vehicles.
In terms of market capitalization, TCS is the second most valued stock in the country after Reliance Industries.
“Our optimism on TCS is based on strong growth visibility backed by robust deal bookings and strong deal pipeline, scale and growth leadership in digital with increasing penetration in large accounts, revival in BFSI (banking, financial services and insurance) vertical and better outlook supported by reduction in captive intensity, and efficient capital allocation,” HDFC securities institutional equities said in a January 11 note.