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.