The combined market capitalisation of India's five largest IT firms, TCS, Infosys, Wipro, HCLTech and Tech Mahindra, has dropped 46.2% from a record ₹33.71 lakh crore in August 2024 to ₹18.15 lakh crore, nearly matching Reliance Industries' ₹17.65 lakh crore valuation. RIL, India's most valuable company, is down 16.7% from its June 2024 peak of ₹21.19 lakh crore.