TCS m-cap falls below Rs 10 lakh crore as stock hits 52-week low amid Anthropic AI shock
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Tata Consultancy Services (TCS), India’s largest IT services provider, saw its market capitalisation slip below Rs 10 lakh crore after the stock plunged up to 4.5% to a 52-week low of Rs 2,776 on the BSE. The sharp decline came amid persistent fears of AI-led disruption weighing on sector sentiment, compounded by stronger-than-expected U.S. jobs data that dampened hopes of near-term rate cuts and added to investor unease. Earlier this week, India’s largest lender SBI overtook TCS to become the country’s fourth-largest listed company by market capitalisation, buoyed by its strong Q3 earnings performance. The bearish sentiment stems from US artificial intelligence startup Anthropic, which unveiled a new tool designed specifically for corporate legal teams earlier this month. Anthropic, the company behind the Claude chatbot, said the product is capable of automating several legal functions, including contract reviews, non-disclosure agreemen...