TCS becomes first Indian firm to cross Rs 5 lakh cr market cap

Tata Consultancy Services (TCS), the country's largest software services exporter , on Wednesday attained a market valuation of over Rs 5 lakh crore, becoming the first company in Indian markets to achieve this milestone.

At the end of Wednesday's trade, the market capitalisation (m-cap) of TCS soared to Rs 5,06,703.34 crore, the highest for the company since its listing in 2004.

Shares of the IT bellwether ended the day at Rs 2,586.90, up 2.21 per cent on the BSE. In intra-day, it gained 2.52 per cent to Rs 2,595 -its 52-week high.

In dollar terms, TCS' market valuation rose to $84 billion.

Interestingly, TCS' current market capitalisation is higher than the combined valuation of other big IT players such as Infosys (Rs 1,92,196.84 crore), HCL Technologies (Rs 1,07,880.18 crore), Wipro (Rs 1,40,474.31 crore) and Tech Mahindra (Rs 50,374.76 crore).

TCS's stock has been in strong position, rallying more than 8 per cent in five consecutive sessions from last Thursday, after the company posted a 45 per cent jump in June quarter net profit.

TCS is also currently the country's most valued company in terms of market valuation.

The IT major is followed by state-run ONGC whose m-cap stood at Rs 3,46,582.90 crore, Reliance Industries Rs 3,34,054.95 crore, ITC (Rs 2,80,454.65 crore) and Coal India (Rs 2,42,579.97 crore).

The combined market capitalisation of as many as 16 listed Tata group firms stands at Rs 3,06,338.63 crore.