Tata Consultancy Services’ market valuation surged past the Rs 7 lakh crore mark on friday, making it the first company to achieve this milestone.
Buoyed by a rally in its share price, the market valuation of TCS jumped to Rs 7,03,309 crore in intra-day session on the BSE. The m-cap has been calculated from its 52-week high price of Rs 3,674 hit on Friday on the exchange.
TCS shares rose by 1.91 per cent to Rs 3,674 on Friday. Shares of the company have gained nearly 35 per cent so far this year. Tata Consultancy Services market valuation had earlier this year surged past the Rs 6 lakh crore mark, making it the second company to achieve the milestone after Reliance Industries.
IT bellwether TCS had last month became the first Indian company to close the trading session with over USD 100 billion market valuation.
TCS is the country’s most valued firm, followed by Reliance Industries with a market capitalisation (m-cap) of Rs 5,83,908.87 crore, HDFC Bank (Rs 5,19,654.83 crore), HUL (Rs 3,42,244.47 crore) and ITC (Rs 3,30,919.46 crore) in the top five list.
The nation’s largest software exporter TCS on April 19 reported a 4.4 per cent rise in March quarter net profit at Rs 6,904 crore.