TCS becomes first company to achieve 7 lakh crore market capitalisation milestone
Tata Consultancy Services (TCS), the country’s most valued and largest IT outsourcing company created history by becoming the first Indian company to reach Rs. 7 lakh crore market capitalisation (m-cap) milestone. M-cap is value of company that is traded on stock market, calculated by multiplying total number of shares by present share price.
TCS achieved this milestone, after its stock zoomed to fresh all-time high of Rs. 3,674 in intraday session on Bombay Stock Exchange (BSE), taking its market valuation to around Rs 7,00,236.83 crore. The m-cap has been calculated from its 52-week high price of Rs 3,674 on BSE.
TCS’s market valuation had earlier surged past Rs. 6 lakh crore ($100 billion) mark, making it second company to achieve milestone after Reliance Industries. Now it is country’s most valued firm, followed by Reliance Industries with market capitalisation of Rs. 5,83,908.87 crore, HDFC Bank (Rs 5,19,654.83 crore), HUL (Rs 3,42,244.47 crore) and ITC (Rs 3,30,919.46 crore) in the top five list.
Month: Current Affairs - May, 2018