TCS 1st Indian company to close trading session with $100 billion market cap

New Delhi: IT bellwether Tata Consultancy Services (TCS) on Thursday became the first Indian company to close the trading session with over $100 billion market valuation.

It had became the first Indian IT company on Monday to cross the $100 billion mark in market capitalisation (m-cap) in intra-day trade, but had closed the session at about $98.8 billion in value. Before TCS, Reliance Industries Ltd had breached the mark in intra-day trade on 18 October 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 Rs39.59 at that time. The market valuation of TCS on Thursday has been calculated on the basis of exchange rate of Rs66.77 against the dollar in the afternoon. At the close of trade TCS’ market cap was up by Rs13,869.81 crore to Rs6,77,724.81 crore ($101.5 billion) following surge in the stock price amid positive March quarter earnings.

Shares of the company ended 2.09% higher at Rs3,540.35 on BSE. During the day, they gained 2.65% to Rs3,560. On NSE, the stock went up by 1.98% to close at Rs3,539.25.

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 nation’s largest software exporter TCS on 19 April reported a 4.4% rise in March quarter net profit at Rs6,904 crore.

TCS is the country’s most valued firm in terms of market valuation, followed by Reliance Industries Ltd (Rs6,17,894.97 crore), HDFC Bank (Rs5,00,930.27 crore), ITC (Rs3,39,645.53 crore) and Hindustan Unilever Ltd (Rs3,22,785.35 crore) in the top five order.

TCS m-cap is Rs59,829.84 crore more than that of RIL’s valuation. Shares of TCS has gained over 31% so far this year. Its market valuation had in 24 January this year surged past the Rs6 trillion mark.livemint