TCS becomes first Indian firm to close trading session with over Rs 6.6 lakh crore market valuation
New Delhi: IT bellwether Tata Consultancy Services (TCS) today became the first Indian company to close the trading session with over USD 100 billion market valuation.
It had became the first Indian IT company on Monday to cross the USD 100 billion mark in market capitalisation (m-cap) in intra-day trade, but had closed the session at about USD 98.8 billion in value.
Before TCS, Reliance Industries Ltd had breached the mark in intra-day trade on October 18, 2007. But, it too had failed to sustain that level and had closed the session below that coveted number. The US dollar was quoted at Rs 39.59 at that time.
The market valuation of TCS today has been calculated on the basis of exchange rate of Rs 66.77 against the dollar in the afternoon.
At the close of trade TCS market cap was up by Rs 13,869.81 crore to Rs 6,77,724.81 crore (USD 101.5 billion) following surge in the stock price amid positive March quarter earnings.
Shares of the company ended 2.09 per cent higher at Rs 3,540.35 on BSE. During the day, they gained 2.65 per cent to Rs 3,560.
On NSE, the stock went up by 1.98 per cent to close at Rs 3,539.25.
In terms of equity volume, 1.51 lakh shares of the company were traded on BSE and over 60 lakh shares changed hands at NSE during the day.
The nations largest software exporter TCS on April 19 reported a 4.4 per cent rise in March quarter net profit at Rs 6,904 crore.
TCS is the countrys most valued firm in terms of market valuation, followed by Reliance Industries Ltd (Rs 6,17,894.97 crore), HDFC Bank (Rs 5,00,930.27 crore), ITC (Rs 3,39,645.53 crore) and Hindustan Unilever Ltd (Rs 3,22,785.35 crore) in the top five order.
TCS m-cap is Rs 59,829.84 crore more than that of RILs valuation.
Shares of TCS has gained over 31 per cent so far this year. Its market valuation had in January 24 this year surged past the Rs 6 lakh crore mark.