Tata Consultancy Services’ market valuation surged past Rs 6 lakh crore mark on Wednesday, becoming the second company to achieve the milestone after Reliance Industries Ltd.
During the late morning trade, the market capitalisation (m-cap) of TCS stood at Rs 6,12,696.46 crore. The company also surpassed RIL to become the country’s most valued firm in terms of market valuation.
Shares of the IT major rose by 4.88 per cent to Rs 3,254.80 — its 52-week high — on BSE. Shares of RIL however, fell by 1.89 per cent to Rs 963.10. RIL’s m-cap stood at Rs 6,11,096.56 crore during the late morning trade.
In the ranking of top-five firms, TCS stood at number one position followed by RIL, HDFC Bank (Rs 5,08,576.16 crore), ITC (Rs 3,41,332.79 crore) and HDFC (Rs 3,03,382.63 crore).