Tata Consultancy Services (TCS) share hit its all-time high in early trade today after the IT major reported its strongest December quarter growth in nine years. Share of TCS rose 3.3% to Rs 3,224 against previous close of Rs 3,120 on BSE.
The IT stock opened with a gain of 3.03% at Rs 3,215. Market cap of the firm rose to Rs 11.87 lakh crore on BSE. TCS share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Total 44.38 lakh shares of the IT giant changed hands on BSE.
The IT stock has risen 42.87% in one year and gained 10.2% since the beginning of this year. Buoyed by the earnings of TCS, BSE IT index gained 2.77% or 714 points to 26,550 in early trade.
Earlier, the index hit its 52-week high of 26,607.
Infosys, HCL Tech and Wipro were the top gainers rising up to 4% on Nifty. TCS has reported a 7.2 per cent rise in consolidated net profit to Rs 8,701 crore in Q3 against a net profit of Rs 8,118 crore in the year-ago period. Revenue of the firm grew 5.4 per cent in the quarter under review to Rs 42,015 crore from Rs 39,854 crore in the corresponding period last fiscal.