TCS’ Market Capitalisation Crosses Rs 12 Lakh Crore
The market capitalisation of Tata Consultancy Services Ltd. crossed Rs 12 lakh crore-mark at close of trade on Thursday, helped by a rally in its share price.
TCS topped the gainers' chart on Sensex, rising 2.89% to close at Rs 3,250.15 on the BSE. During the day, it jumped 3.42% to a record high of Rs 3,267.
Following the rally in stock price, the company's market valuation jumped to Rs 12,19,581.32 crore at close of trade on the BSE.
TCS is the second domestic firm after Reliance Industries Ltd. to achieve the milestone of crossing Rs 12 lakh crore in market valuation.
On Monday, the company's market valuation had risen to Rs 12.09 lakh crore during the morning trade on the BSE.
TCS is the second most valuable domestic firm in terms of market capitalisation.
Reliance Industries is the country's most valuable firm with a market valuation of Rs 12.42 lakh crore.
The country's largest software services firm had on Friday reported a 7.2% rise in consolidated net profit at Rs 8,701 crore for December 2020 quarter.
The stock has gained over 13% so far in January.