TCS market cap: TCS stock rises 15 per cent in one month, market cap exceeds Rs 13.5 trillion
- Shares of TCS set a new record during trading
- The company’s market cap went beyond Rs 13.5 lakh crore.
- It is the second listed company in the country to achieve this position
- Reliance is the first company in the country in terms of market cap
Shares of Tata Consultancy Services (TCS), the country’s largest IT company, rose 2.3 per cent to a new high of Rs 3,694.25 on the BSE on Wednesday. In addition, the company’s market cap also went beyond Rs 13.5 lakh crore. TCS is the second listed company in the country to reach this stage. Reliance Industries, led by Mukesh Ambani, has already done this. Reliance Industries currently has a market cap of Rs 1,417,986.42 crore.
Shares of TCS rose 1.42 per cent to close at Rs 3,663.60 on Wednesday. Shares of the company have risen 15 per cent in the past one month, while the BSE Sensex has risen 6 per cent. TCS’s market cap has risen to Rs 13.55 lakh crore on the back of gains in shares. The company is now a short distance from achieving a market cap of Rs 14 lakh crore. According to BSE data, TCS is currently ranked second in terms of market cap, while Reliance Industries is ranked first.
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TCS is the leading IT service provider in the country with business spread across BFSI, Communications, Manufacturing, Retail and Hi-Tech Vertical. The company had revenue of .2 22.2 billion for the fiscal year ended March 31, 2021. Analysts say the company expects to benefit greatly from growing demand, increased cloud adoption and the ability to digitally transform.
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