TCS 2nd Indian company to hit $200 billion mcap after RIL


MUMBAI: Tata Consultancy Services (TCS), the second most valued company in India and the largest within the Tata Group, became the second national company to cross the $ 200 billion market capitalization mark on Wednesday. Exactly one year ago, Reliance Industries (RIL) was the first Indian company to cross that milestone and is currently at $ 215 billion.
In Wednesday’s market, TCS crossed the mark mid-session and closed a bit with a market value of $ 199.1 billion, official data showed. When TCS was listed in August 2004, it had a mcap of around $ 10 billion.
It crossed the market value of $ 50 billion in December 2010, $ 100 billion in April 2018, and $ 150 billion in December 2020.

On the global leaderboard of top-rated software services companies, TCS now ranks behind Accenture, which has a market value of $ 218 billion but ahead of IBM ($ 123 billion). Among Indian peers, Infosys has a market value of $ 97 billion and Wipro $ 50 billion.
During the day, the rally in TCS, which closed 1.8% higher, along with strong buying at Infosys, Bharti Airtel and ICICI Bank, lifted the sensex to a record close of 58,723 points, up 0.8%, or 476 points.
Also on the NSE, the Nifty index closed at a new lifetime high of 17,519 points. The day’s rally also brought total investor wealth to a new high with BSE’s market capitalization now at Rs 262.1 lakh crore, up from Rs 260 lakh crore on Tuesday.

Source link


Please enter your comment!
Please enter your name here