TCS shares hit record high, market value hits Rs 9 lakh crore for first time


Tata Consultancy Services has a market value of Rs 9.35 lakh crore

Tata Consultancy Services (TCS) hit a record high on Monday, taking its market capitalization – or market value – above Rs 9 lakh crore for the first time. The sharp rise in TCS shares was in line with the rally in IT shares, with HCL Technologies upgrading its revenue and operating margin outlook for the September quarter. On the BSE, TCS stock rose 5.50 percent to Rs 2,504.20 during the session, slightly strengthened during the day at Rs 2,377.00 as compared to its previous close of Rs 2,377.70.

TCS shares ended the day up by 5.00 per cent, or Rs 118.60 – at Rs 2,492.30 per share, beating the benchmark S & P BSE Sensex index, which fell 0.75 per cent in a volatile session.

This makes the Nifty IT Index among the top 10 IT companies in the country – up 4.68 per cent, with all its constituents finishing the day in positive territory. This marked the index’s largest single-day jump since July 15.

(Also read: IT major boosts September quarter revenue outlook after recording HCL Tech Soars)

At the current level, Tata Consultancy Services has a market value of Rs 9.35 lakh crore, the only company to surpass this milestone after the country’s most valuable company, Reliance Industries. (Track TCS Share Here)

TCS had a market capitalization of Rs 9.40 lakh crore during the session.

.

Latest news

Huawei plans cut more for jobs, investment in Australia

Australian operations of Chinese telecommunications equipment maker Huawei said it would continue to cut workforce and investment in the country amid strained relations...

Lookout notice against Aditya Alva, son of former minister in Karnataka drug case: report

The Bangalore CCB recently raided the bungalow of Aditya Alva, son of former minister Jeevanraj Alva.Bengaluru: The Central Crime Branch investigating drug abuse...

Gaming and Entertainment Center Smash Shuts Down Emid Epidemic: Report

Smaaash offered popular pasts like bowling, cricket, dance-offs.new Delhi: Smash Entertainment, the operator of the popular Indian Gaming and Entertainment Center, chooses to...

Related news

Huawei plans cut more for jobs, investment in Australia

Australian operations of Chinese telecommunications equipment maker Huawei said it would continue to cut workforce and investment in the country amid strained relations...

Lookout notice against Aditya Alva, son of former minister in Karnataka drug case: report

The Bangalore CCB recently raided the bungalow of Aditya Alva, son of former minister Jeevanraj Alva.Bengaluru: The Central Crime Branch investigating drug abuse...

Gaming and Entertainment Center Smash Shuts Down Emid Epidemic: Report

Smaaash offered popular pasts like bowling, cricket, dance-offs.new Delhi: Smash Entertainment, the operator of the popular Indian Gaming and Entertainment Center, chooses to...

LEAVE A REPLY

Please enter your comment!
Please enter your name here