TCS market capitalization crosses Rs4 trillion

TCS market capitalization crosses Rs4 trillion
Mumbai: Tata Consultancy Services Ltd. (TCS) on Monday attained a market valuation of Rs4 trillion-becoming the second company in Indian markets after Reliance Industries Ltd. (RIL) to cross this milestone.

At present, TCS is the only company with a market valuation of over Rs4 trillion as RIL had slipped below this level. At the end of Monday's trade, the market capitalization of TCS surged to Rs4,00,868.22 crore, the highest for the company since its listing in 2004.

TCS is already the country's most valued company, a position once held by Mukesh Ambani-led RIL, which also had seen its market cap cross the Rs 4 trillion mark in October 2007.

However, RIL's share price performance has lagged in the past couple of months and the company's market cap currently stands at over Rs2.85 trillion-giving TCS a lead by more than Rs1 trillion. TCS shares rose by 1.24% to close at Rs2,048.15 at the BSE on Monday. In intra-day trade, the scrip touched its all-time high of Rs 2,065.45.

In the US dollar terms, TCS's market capitalisation has risen to over $60 billion. The rupee on Monday closed at 66 against the US dollar, down 30 paise or 0.45%.Shares of TCS has risen over 62% so far this year, although the benchmark Sensex has fallen by 3.54% during the same period.The rupee has fallen by over 21% so far this year.

Fall in the rupee versus the US dollar is broadly seen as positive for export-focused sectors like the Indian IT sector. Large IT companies benefit from a weaker rupee, as it positively impacts their profit margins as these firms earn a major chunk of their revenues in dollar from their US clients.


Story first published: Tuesday, September 3, 2013, 9:00 [IST]
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