ICICI Bank Overtakes TCS in Market Cap Race: What's Driving the Shift?

• ICICI Bank surpassed TCS in market valuation on February 12, becoming the country's fifth-largest company.
• TCS, India's largest IT company, has been experiencing selling pressure due to global and domestic IT stock weakness.
• SBI had already overtaken TCS in valuation on February 11, now ranking as the fourth-largest company.
• ICICI Bank shares gained 2% on February 12, boosting its market cap to 10.22 lakh crore rupees, while TCS fell 5% to 10.04 lakh crore rupees.
• The Nifty IT Index has seen significant declines, falling 13% in 2025 and about 11% in 2026, partly due to AI tools impacting IT business.