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TCS becomes first Indian IT firm to cross Rs 9 lakh crore market capitalisation

TCS share hit all-time high on BSE today rising 3.37% to Rs 2,453 against previous close of Rs 2373 on BSE

twitter-logoBusinessToday.In | September 14, 2020 | Updated 13:33 IST
TCS becomes first Indian IT firm to cross Rs 9 lakh crore market capitalisation

Tata Consultancy Services (TCS) on Monday became the second Indian company to cross Rs 9 lakh crore market capitalisation mark. The stock of information technology hit all-time high on BSE today rising 3.37% to Rs 2,453 against previous close of Rs 2373 on BSE. The first Indian firm to achieve the milestone was Reliance Industries.

The Mukesh Ambani-led firm crossed Rs 9 lakh crore market cap market on October 18, 2019. RIL currently  trades above Rs 15 lakh crore market cap mark becoming the first Indian firm to achieve the feat.

Meanwhile, the IT stock has gained 5.43% in the last 3 days.

RIL share hits all-time high, market cap crosses Rs 15 lakh crore

TCS share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. At 1:06 pm, market cap of the firm stood at Rs 9.18 lakh crore on BSE. TCS share has gained 14% in one year and 13% since the beginning of this year. In one month, the share has risen 9.18%.

Total 0.96 lakh shares of TCS changed hands amounting to turnover of Rs 9.18 crore on BSE.

The stock hit 52-week low of Rs 1,504 on March 13 this year.

In Q1 of current fiscal, the IT firm reported a 14% fall in net profit to Rs 7,008 crore as business was disrupted by coronavirus pandemic. The Mumbai-headquartered company posted consolidated net profit of Rs 8,131 crore in the same quarter of financial year 2019-20.

The firm posted a 0.4 per cent growth in consolidated revenue at Rs 38,322 crore in Q1 FY21 as compared to Rs 38,172 crore in Q1 FY20. Revenue in constant currency terms fell 6.3 per cent YoY.

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