India's IT behemoth Tata Consultancy Services (TCS) breached the psychological mark of $100 billion in market capitalisation on Monday following the sharp surge in the share prices led by the better-than-expected financial result for the quarter ended 31 March 2018.
India’s IT behemoth Tata Consultancy Services (TCS) breached the psychological mark of $100 billion in market capitalisation on Monday following the sharp surge in the share prices led by the better-than-expected financial result for the quarter ended 31 March 2018. Notably, TCS is by far the first Indian company to achieve the feat of $100 billion plus in terms of market capitalisation. Interestingly, India’s largest IT services company and the market capitalisation leader is also bigger than Pakistan Stock Exchange.
Yes, its true, Rajesh Gopinathan-led India’s IT giant TCS’ market capitalisation is larger than the combined market capitalisation of 577 companies listed on Pakistan Stock Exchange Ltd. Up until 22 April 2018, the total market capitalisation of 577 companies on Pakistan Stock Exchange was $81.38 billion (PKR 9,41,5.318 billion).
While, on the other hand, the Tata Group cash cow TCS commands a market capitalisation of $103.14 billion at the all-time high share price of Rs 3,557 on Bombay Stock Exchange. In Indian rupee terms, TCS holds a market capitalisation of Rs 6,80,912.1 crore.
Surprisingly, Mukesh Ambani-controlled Reliance Industries Ltd is also bigger than Pakistan Stock Exchange in market capitalisation. The oil-to-telecom conglomerate Reliance Industries commands a market capitalisation of $90.49 billion on the basis of the Monday’s peak share price of Rs 942.95 while in Indian rupee terms, RIL has a market capitalisation of Rs 5,97,385 crore on BSE.
As of now, Tata Consultancy Services Ltd and Reliance Industries Ltd are the only two Indian companies which are bigger than the 577 companies on Pakistan Stock Exchange in terms of market capitalisation. India’s largest private sector lender HDFC Bank is a couple of billion dollars behind Pakistan Stock Exchange. At current market prices, HDFC Bank commands a market capitalisation of $78 billion (at Monday’s high price of Rs 1,984).
Shares of Tata Consultancy Services were on a continuous upsurge since Friday last week followed by the robust quarter fourth-quarter corporate earnings. The stock of TCS had risen about 11.5% to Rs 3,557 from a share price level of Rs 3,190.65 as on Thursday. Today only, shares of TCS surged as high as 4.42% to a record high of Rs 3,557 on BSE while the stock gained 4.57% to an all-time peak of Rs 3,557.9 on NSE. On Monday, TCS shares were the most active stock scrips on both NSE and BSE. As at 1:24 pm, a whopping Rs 1,728 crore worth of shares exchanged hands on NSE alone as against Rs 8,625 crore total traded stocks of Nifty 50 index.