Owing to a sharp sell-off of its shares in the market, the Tata Group has witnessed a significant loss of over Rs 25,000 crore in its market valuation within a week's time.
Subsequently, the cumulative market value of around 30 Tata group's companies has dropped below Rs 5 trillion mark to Rs 4,85,000 crore, as against the market valuation of Rs 5,10,000 crore a week ago.
Tata Motors, Tata Steel, TCS, Titan Industries and Tata Power are amongst the companies that registered huge erosion in market values.
The group's most valued entity, TCS has lost around Rs 4,000 crore of market wealth, while Tata Motors' market worth slipped by over Rs 9,000 crore to Rs 88,200 crore. Titan Industries also lost over Rs 4,500 crore, while Tata Steel and Tata Power each lost around Rs 2,000 crore.
The market value of salt-to-software conglomerate had crossed USD 100 billion in the year 2011 and remained above this mark for quite some time. However, it later slipped below the milestone amid a downtrend in share prices and rupee depreciation against the US dollar.