India’s TCS shares hit record, touches $100 billion in market capitalisationhttps://indianexpress.com/article/business/companies/indias-tcs-shares-hit-record-touches-100-billion-in-market-capitalisation-5148049/

India’s TCS shares hit record, touches $100 billion in market capitalisation

Shares of the Mumbai-based company rose as much as 4.4 per cent to a record high of Rs 3,553, extending gains for a third straight session after the company posted its biggest-ever profit last week on new deals in the March quarter.

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Net profit touched Rs 69.04 billion, beating analysts’ average estimate of Rs 67.98 billion, according to Thomson Reuters data.

Tata Consultancy Services Ltd, India’s biggest software services exporter, breached the Rs 3,500 ($52.87) per share mark on Monday for the first time, reaching $100 billion in market capitalisation.

Shares of the Mumbai-based company rose as much as 4.4 per cent to a record high of Rs 3,553, extending gains for a third straight session after the company posted its biggest-ever profit last week on new deals in the March quarter.

Net profit touched Rs 69.04 billion, beating analysts’ average estimate of Rs 67.98 billion, according to Thomson Reuters data. The NSE IT index hit an all-time high on Monday.

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