Indian largest IT services company and Tata Group's cash cow TCS' market capitalisation neared the iconic $100 billion mark on Friday as shares of IT behemoth rocketed about 7% on the stellar Q4 results.
Indian largest IT services company and Tata Group’s cash cow TCS‘ market capitalisation neared the iconic $100 billion mark on Friday as shares of IT behemoth rocketed about 7% on the stellar Q4 results. The stock of the market capitalisation leader TCS was the biggest gainers among the top 100 companies on National Stock Exchange on Friday. Shares of TCS very quickly extended gains in the morning deals after opening higher and touched a fresh all-time peak advancing more than 7%.
$100 billion market cap
On the basis of RBI’s reference rate of Rs 65.7837 per US dollar, quoted on Thursday, TCS topped a market capitalisation of $99.5674 billion which is just $0.4426 billion (442.6 million) away from hitting the psychological mark of $100 billion. So far, as of now, TCS is the only company to achieve the feat near to $100 billion in terms of market capitalisation out of about 3,000 traded actively traded companies on Asia’s oldest stock exchange BSE.
The stock of TCS surged about 7.25% to a record high of Rs 3,422.35 before concluding up 6.98% at Rs 3,402.45 on NSE while the stock zoomed 7.23% to an all-time high of Rs 3,421.25 before settling up 6.76% at Rs 3406.4 on BSE on Friday. In rupee terms, TCS commands a market capitalisation of Rs 6.52 lakh crore as per the closing price of Rs 3,406.4 on BSE.
Volume and Turnover topper
Massive trading volumes have been observed on the counters of TCS, at the close of trade on Friday, more than 1 crore equity shares of TCS exchanged hands collectively on both NSE and BSE with about 92.32 crore shares on NSE alone. Following the heavy trading volumes, TCS also topped the turnover among all the listed companies on Friday. Notably, the value traded in the shares of TCS stood at Rs 3,093.96 crore as against Rs 15,372.4 crore on Friday (total turnover of all the components of Nifty 50 index).