TCS shares erode ₹18,250-cr investor wealth in 5 mins as firm announces 12,000 layoffs
The market capitalisation of Tata Consultancy Services fell by over ₹18,250 crore in just five minutes as the shares began trading about 1.5% lower on Monday. This comes a day after India's largest IT company announced that it'll layoff 12,000 employees. In early trade, TCS shares fell as much as 1.7% to hit ₹3,081.20 after opening 0.7% lower at ₹3,113.