Infosys Wipro, HCL Tech saw decline in market cap days after Q2
In past two weeks, key IT players namely – Infosys, TCS, Wipro and HCL Technologies have announced their second quarter (September 30, 2016) performance.
Except Azim Premji’s Wipro, remaining all reported profit in their Q2 result.
Following the Q2 announcement, these companies market cap was also on a roller-coaster ride.
Till last week, these companies contributed nearly Rs 18,191.29 crore market value on BSE.
But on Monday trading session, things were different.
In terms of market cap, TCS maintained its leadership by rising over Rs 9408.80 crore to Rs 4,78,390.35 crore presently from Rs 468981.55 crore at the day of Q2 announcement.
However, Infosys saw Rs 5294.45 crore loss to Rs 2,36,355.61 against Rs 241650.06 crore at the time of results.
While HCL Tech declined by Rs 3208.21 crore to Rs 1,14,382.60 from Rs 1,17,590.81 crore last week.
Following the weak net profit and disappointing guidance, Wipro market cap declined by Rs 3755.59 crore to Rs 1,17,590.04 crore against the day of result where it stood at Rs 1,21,345.63 crore.
Stock of these companies also tumbled on BSE where – Infosys was at Rs 1029 (0.88%), HCL Tech at Rs 810.70 (2.45%) and Wipro at Rs 483.75 (3.09%). While TCS remained flat at Rs 2427.85.