TCS is first Indian company to cross Rs5,00,00-cr market cap
23 July 2014
Tata Consultancy Services has emerged India's most valuable company in terms of share value, with its market capitalisation touching Rs5,06,703.34 ($84.5 billion) today, the first Indian company to cross the Rs5,00,000 crore market cap.
Shares of TCS, which hit their 52-week high on the bourses today, closed 2.21 per cent higher at Rs2,586.9, taking the company's market cap to Rs5,06,703 crore.
TCS is followed by ONGC (Rs3.5 lakh crore) and Reliance Industries (Rs3.3 lakh crore).
The market cap of TCS is more than the combined market cap of Rs4,62,195.33 crore of the other four major Indian IT companies, including Infosys (Rs1,63,367.32 crore), Wipro (Rs1,40,480.71 crore), HCL Tech (Rs1,07,880.18 crore) and Tech Mahindra (Rs50,467.12 crore), as per latest market data,
The TCS stock has rallied more than 8 per cent in five consecutive sessions since the company last Thursday reported a 45 per cent jump in June quarter net profit.
TCS has reported a net profit of Rs5,568 crore and a revenue of Rs22,111 crore for the first quarter ended 30 June 2014.