Shares of Tata Consultancy Services on Wednesday surged 5.47 per cent after the company posted better-than-expected quarterly earnings. The market capitalisation of the company also jumped to Rs 757,904 crore, a rise of over Rs 39,200 crore in a day.
Only 70 companies in India have total market cap higher than 39,200 which was the single day gain for TCS. It was more than the market cap of companies such as Ashok Leyland, Dr Reddy’s Laboratories and Cadila Healthcare among others.
TCS stock closed at Rs 1,979.60 on the BSE. During the day, it climbed 6.28 per cent to Rs 1,995 — its 52-week high. The stock was the biggest gainer among the blue chips on both the key indices. Other tech stocks also gained ground. HCL Tech rose 1.63 per cent, Infosys 1.37 per cent, Wipro 0.65 per cent and Tech Mahindra 0.65 per cent on the BSE.