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TCS in USD100 bn m-cap club
The Tata Consultancy Services (TCS) on Monday breached the USD 100 billion mark in market valuation, but slipped below the coveted milestone at close of session. In the morning trade, the company’s market capitalisation (m-cap) hit over USD 100 billion (Rs 6,80,912.10 crore), becoming the first Indian IT firm to cross this mark.
New Delhi: The Tata Consultancy Services (TCS) on Monday breached the USD 100 billion mark in market valuation, but slipped below the coveted milestone at close of session. In the morning trade, the company’s market capitalisation (m-cap) hit over USD 100 billion (Rs 6,80,912.10 crore), becoming the first Indian IT firm to cross this mark.
At close of trade, however, the m-cap declined to USD 98.8 billion (Rs 6,53,767.50 crore). Reliance Industries Ltd had breached the USD 100 billion m-cap mark on October 18, 2007. The US dollar at was quoted at Rs 39.59 at that time. The rupee has weakened considerably since then was at Rs 66.16 against the American currency in the morning trade.
Shares of the IT major rose by 4.42 per cent to a record high of Rs 3,557 in intra-day trade on BSE today. The stock later gave up most of its early gains and ended flat at Rs 3,415.20, up 0.26 per cent.
On NSE, TCS shares settled at Rs 3,408.65, up 0.18 per cent. In terms of equity volume, 5.06 lakh shares of the company were traded on BSE and over 75 lakh shares changed hands at NSE during the day. At the end of Friday’s trading session, the IT major commanded a m-cap which was Rs 7,917.08 crore, just short of the USD 100 billion milestone at Rs 6,52,082.92 crore.
The stock has been gaining for the third straight session today, rising 8 per cent and added Rs 48,948.5 crore to its market valuation. So far this year, shares of the company has risen by 26.5 per cent. The IT major accounts nearly 11 per cent of the total Sensex m-cap of Rs 6,081,286.82 crore.
