India’s largest IT services company by turnover and market capitalisation TCS (Tata Consultancy Services) on Friday achieved yet another feat just after the month when Indian IT bellwether clinched $100 billion in the market capitalisation. TCS crossed Rs 7 lakh crore in the market capitalisation in the morning deals on Friday. With a market capitalisation of Rs 7 lakh crore, TCS is the only Indian company to achieve this position. The Tata Group’s cash cow TCS breached $100 billion in market capitalisation on 23 April 2018 for the first time.
Shares of TCS have been in a winning streak since the time the company has announced the financial results for the quarter and fiscal year ended 31 March 2018. Today only, TCS shares surged as high as 1.92% to hit an all-time high of Rs 3,674 on BSE while the stock advanced 1.97% to a lifetime high of Rs 3,674.8 on NSE.
Following a sharp appreciation in the share price of TCS, the company gained Rs 13,054 crore in the market capitalisation within the wee hours of trading on Friday. As per the record high share price of Rs 3,674, TCS held a market capitalisation of Rs 7,03,117 crore (approx) as compared to Rs 6,90,062 on the basis of the closing price of Rs 3,604.8 on BSE.
TCS is the most valued company on Indian bourses, though Mukesh Ambani-led RIL (Reliance Industries Ltd) have briefly pipped TCS in market capitalisation several times in the last one year. Surprisingly, for a longer duration, RIL was the top firm as far as the market capitalisation is concerned.
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TCS is firmly placed at the peak place in the club of top ten companies by market capitalisation in India. Other prominent companies which feature in the top ten club of market capitalisation are RIL (market cap: Rs 5,80,361 crore); HDFC Bank (market cap: Rs 5,15,733 crore); HUL (Rs 3,38,024 crore); ITC (Rs 3,35,374 crore); HDFC (Rs 3,02,896 crore); Infosys (Rs 2,66,868 crore); Maruti Suzuki (Rs 2,54,043 crore); Kotak Mahindra Bank (Rs 2,43,102 crore) and State Bank of India (Rs 2,39,625 crore).
Earlier on Tuesday this week, TCS informed that 23rd annual general meeting of the company will be held on 15 June 2018at Birla Matushri Sabhagar, 19, Sir Vithaldas Thackersey Marg, New Marine Lines, Mumbai, 400 020.