TCS m-cap surges past Rs 7-lakh cr mark

TCS m-cap surges past Rs 7-lakh cr mark

(Eds: Updating with closing figures)

New Delhi, May 25 (PTI) IT bellwether Tata Consultancy Services market valuation surged past Rs 7 lakh crore in intra-day today, making it the first company to achieve this milestone.

The market valuation of TCS jumped to Rs 7,03,309 crore during the intra-day session on the BSE today. The m-cap was calculated at the stocks 52-week high price of Rs 3,674 hit today on the exchange.

At the close of trade, however, the m-cap of TCS slipped below the Rs 7-lakh crore mark and stood at Rs 6,87,123.96 crore.

TCS shares slipped 0.43 per cent to settle at Rs 3,589.45 apiece on the BSE. During the day, it had gained 1.91 per cent to hit a one-year high of Rs 3,674.

The IT majors shares have surged nearly 33 per cent so far this year.

TCS market valuation had earlier this year went past the Rs 6 lakh crore level, making it the second company to achieve the milestone after Reliance Industries.

The Mumbai-headquartered TCS had last month became the first Indian company to close the trading session with over USD 100 billion market valuation.

TCS is the countrys most valued firm, followed by Reliance Industries with a market capitalisation (m-cap) of Rs 5,83,972.22 crore, HDFC Bank (Rs 5,22,420.61 crore), HUL (Rs 3,41,064.80 crore) and ITC (Rs 3,31,895.80 crore) in the top five list.

The nations largest software exporter TCS on April 19 reported a 4.4 per cent rise in its March quarter net profit at Rs 6,904 crore. PTI SUM MKJ MKJ