TCS becomes second Indian firm to cross Rs 6 lakh crore mcap mark, pips Reliance Industries briefly

 BusinessToday.in        Last Updated: January 24, 2018  | 18:23 IST
TCS becomes second Indian firm to cross Rs 6 lakh crore mcap mark, pips Reliance Industries briefly

Tata Consultancy Services (TCS) on Wednesday crossed market capitalisation of Rs 6 lakh crore for the first time ever on BSE and NSE. The Mumbai-based firm is the second Indian firm to achieve this feat with Mukesh Ambani-led Reliance Industries Ltd (RIL) retaining the top slot.

Currently, the TCS stock is having a valuation of about Rs 6.07 lakh crore. The stock hit a fresh 52-week high of Rs 3,254.80 rising 4.88% on BSE in early trade today and scaled the new record of market capitalisation. Amid the rally, the stock also briefly pipped market heavyweight RIL to become the top stock in terms of market capitalisation.

The TCS stock is up 19 percent or 510 points since the beginning of this year. On an yearly basis, the stcok has gained 38.92% or 890 points on BSE.

The TCS stock closed 2.30% or 71 points higher at 3174 on BSE today. Its market cap stood at Rs 6.07 lakh crore.  

The Reliance Industries stock fell 1.75% or 17 points to 964.55 level on BSE. RIL's market cap stood at Rs 6.10 lakh crore.

On October 27, 2017, RIL crossed the Rs 6-lakh crore mark for the first time ever after its stock touched an all-time high of Rs 958.20.

Tata Consultancy Services (TCS) reported a 3.6 per cent fall in net profit to Rs 6,531 crore in the December 2017 quarter.

The Mumbai-headquartered company had posted a net profit of ?6,778 crore in the October-December quarter of the previous fiscal, the company said.

Reliance Industries Limited (RIL) posted its highest-ever quarterly consolidated net profit of Rs 9,423 crore, recording 25.1 per cent growth in Q3. The company's total revenue stood at Rs 109,905 crore, which is up 30.5 per cent as compared to Rs 84,189 crore in the corresponding period of the previous year. RIL's net profit was at Rs 7,533 crore in the corresponding period of the previous year.

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