Tata Consultancy Services, already the most valued Indian company by market capitalisation and the second most by profitability among private companies, hit a new milestone on Wednesday as its market capitalisation crossed Rs 5 lakh crore mark.
With TCS share prices rising 2.21 per cent to Rs 2,586.9, the market capitalisation of the company soared to Rs 5,06,696 crore. In dollar terms the valuation stood at $84.4 billion. Market experts however feel that the company is still valued lower than its global peers.
“TCS market cap is far less than its global competitor IBM, which is valued at nearly $200 billion,” said Rakesh Tarway, vice-president and head of equity and derivatives, Motilal Oswal Securities.
- Bigg Boss 10 Day 3 Review: Celebs Fail To Do Well in First Task
- Airtel Offers 10GB Data At Rs 259 For New 4G Smartphone Users
- Aamir Khan Starrer Dangal’s Trailer Launched: First Impressions
- TMC Supporters Attack BJP Leader Babul Supriyo
- Sri Lankan Navy Apprehends 20 Indian Fishermen
- Hillary Clinton accuses Donald Trump of being Vladimir Putin’s ‘puppet’
- Senior UP Congress Leader Rita Bahuguna Joshi Joins BJP
- Missing JNU Student: VC Gives Ultimatum To Students Over ‘Illegal Confinement’
- US Presidential Debate: Donald Trump Calls Hillary Clinton ‘A Nasty Woman’
- Hasselblad True Zoom Mod Review
- Honor 8 First Look Video
- Apple Watch 2: Review, Price And Features
- Delhi HC Dismisses Kejriwal’s Plea For Stay In Criminal Defamation Case
- Gulzar Shares An Interesting Anecdote Behind The Lyrics of ‘Humne Dekhi Hai’ Song
- Diya Mirza Displays Her Painting Skills At An Art Festival In Mumbai
On Wednesday, the BSE Sensex rose 121 points to close at a new high of 26,147.3, boosted by gains in IT and banking shares on upbeat earnings, robust capital inflows and positive global cues.
In the market-cap ranking, TCS is significantly ahead of runner-up ONGC whose market-cap stood at Rs 3,46,582 crore. The next in line are Reliance Industries (Rs 3,34,055 crore), ITC (Rs 2,80,454 crore) and Coal India (Rs 242,579 crore).