TCS m-cap tops $200 billion, shares hit lifetime high of Rs 3,980 intra-day
The stock settles at Rs 3,955 at close, up 1.8% over previous close.
On Wednesday, Tata Consultancy Services (TCS) surpassed the $200 billion market capitalization milestone, extending the stock’s winning streak this year.
TCS shares hit a new all-time high of Rs 3,980 before finishing at Rs 3,955, up 1.8% from the previous day’s close. TCS’ stock has risen 35% this year amid a strong rebound in IT stocks. The Tata group flagship had a market capitalization of Rs 14.63 trillion ($199.2 billion) after the close.
Only Reliance Industries (RIL), with a market cap of Rs 15.81 trillion ($215 billion), has a greater market cap among domestically listed firms. RIL became the first firm to reach the $200 billion market capitalization mark earlier this month.
With the epidemic resulting in an acceleration of digital transformation, the Indian IT sector has been on an upward trend. The advantages can be seen in the increase in the number of businesses.