TCS In Top M-cap League Globally In IT At Number 3

Mumbai, Aug 26 | Updated: Aug 27 2004, 05:30am hrs
Tata group technology major Tata Consultancy Services Ltd (TCS) has emerged as the third largest IT service company globally in terms of market capitalisation at $10.2 billion. Accenture and Automatic Data Processing occupy the first and second position with m-cap of $24.2 billion and $23.8 billion respectively.

On the domestic bourses, TCS shares slipped on the second day of listing but continued to top the turnover chart and contributed heavily to the total turnover. The TCS stock, however, closed with marginal loss of 0.91 per cent at Rs 978.55 as against the previous close of Rs 987.55 on the BSE. Its market capitalisation stood at Rs 46,801.60 crore. On the BSE, TCS counter recorded highest trading turnover of Rs 220.99 crore. Around 22.43 lakh TCS shares changed hands on the BSE, while at the NSE, TCS counter recorded turnover of Rs 498.26 crore as against the trading volume of 50.55 lakh share.

Trading turnover on both the bourses the BSE and the NSE witnessed a significant dip as compared to the previous level. The NSE recorded tunrover of 4,355.68 crore as against Rs 4,712.21 crore recorded on Wednesday. The BSE on the other hand clocked turnover of Rs 1,765.01 crore as against Rs 1,967.84 crore recorded on the previous day. The number of shares traded on the NSE were 24.17 crore shares (21.17 crore), while on the BSE, 12.07 crore shares changed hands as against 11.15 crore shares traded in the previous session.

Dealers said that the interest in the TCS shares is expected to continue for some more time as allotees are expected to make quick exit.