Software giant Tata Consultancy Services (TCS) today attained a market valuation of over Rs 5 lakh crore for the first time, helped by a rally in the stock.
The market capitalisation (m-cap) of TCS surged to Rs 5,03,148.25 crore, the highest for the company since its listing in 2004.
In dollar terms, TCS’ market valuation rose to USD 83 billion.
Interestingly, TCS’s current market capitalisation is higher than the combined valuation of Infosys (Rs 1,90,103.75 crore), HCL Technologies (Rs 1,08,069.20 crore), Wipro (Rs 1,40,042.54 crore) and Tech Mahindra (Rs 50,416.95 crore).
The company’s share price rose by 1.95 per cent to Rs 2,580.60 — its 52-week high on the BSE in morning trade.
The stock has been in strong position, rallying more than 8 per cent in five consecutive sessions from last Thursday, after the company posted a 45 per cent jump in June quarter net profit.
TCS is also currently the country’s most valued company in terms of market valuation.
The IT major was followed by state-run ONGC whose m-cap stood at Rs 3,47,780.67 crore, Reliance Industries Rs 3,31,451.84 crore, ITC (Rs 2,78,305.88 crore) and Coal India (Rs 2,43,180.03 crore).