TCS market capitalisation hits $200 billion as shares jump to fresh highs
NDTV
IT services major TCS on Wednesday touched the $200 billion market capitalisation-mark as its shares surged to lifetime highs.
New Delhi: IT services major Tata Consultancy Services (TCS) on Wednesday touched the $200 billion market capitalisation-mark as its shares surged to lifetime highs in intraday trade. The stock moved to an all-time of Rs 3,980 before settling 1.79% higher at Rs 3.954.80. The company's market capitalisation or m-cap stood at around Rs 14.63 lakh crore ($199.1 billion).
Before this, Reliance Industries (RIL) was the only listed company in India with a market valuation of over $200 billion. RIL's current m-cap stood at Rs 15.08 lakh crore ($205.2 billion).
Overall, the IT sector has been performing well amid the Covid-19 pandemic due to the rise in digital activities. Shares of Infosys today rose 1.49% to settle at Rs 1,711. The company's m-cap surged to Rs 7.26 lakh crore ($98.8 billion).
In another set of development, TCS has been named a leader in the IDC MarketScape for Worldwide Life Science R&D Strategic Consulting Services, the company stated in a notification to the exchanges.
