Bengaluru: A logo of the IT major, Bengaluru-headquartered firm, Infosys, in Bengaluru, Karnataka.
Mumbai: IT giant Infosys slipped out of the 10 most valued firms in India on Monday. On the other hand, TCS, which was the second most valued company in the country till a few years ago, is now the sixth-most valued company.All these changes are taking place mainly due to recent AI-led disruptions that are challenging business models of India’s software exporting majors.On Monday, Infosys closed the session with its market capitalisation at a little over Rs 4.7 lakh crore, the 11th most valued company in India, behind LIC with a market cap of Rs 5.2 lakh crore. TCS’s market cap stood at Rs 8.9 lakh crore, BSE data showed. In Monday’s market, while IT stocks witnessed sharp sell-offs, helped by strong buying in Reliance Industries, Sun Pharma and HDFC Bank, the sensex closed 639 points up at 77,304 points.
The rise in sensex came despite crude prices rallying to over $101/barrel mark and rupee languishing below the 94/$ mark.
