Tech Mahindra's Market Cap Crosses Rs 1 Lakh Crore Mark

At the end of Friday's trade session, Tech Mahindra's market capitalisation crossed the Rs 1-lakh crore mark after a rally in its share price on Friday.

At the close of trade, the company's market valuation was at Rs 1,01,671.34 crore on the BSE.

Shares of the company gained 5.64% to close at Rs 1,050.95 on BSE. During the day, the stock jumped 6.54% to hit a new record high of Rs 1,059.95 per share.

The company has become the fifth information technology (IT) firm to enter the Rs 1-lakh crore market capitalisation club.

Tata Consultancy Services (TCS), Infosys, HCL Technologies Ltd and Wipro are the other IT firms to have a market valuation of over Rs 1 lakh crore.

Tech Mahindra is at the 33rd position in the ranking of top-100 companies by market capitalisation on the BSE.

Reliance Industries Ltd (RIL) is currently the country's most-valued firm with a market valuation of Rs 12,25,445.59 crore followed by TCS (Rs 11,70,875.36 crore).

The market valuation of Infosys was at Rs 5,58,772.73 crore, HCL Technologies Ltd at Rs 2,69,860.43 crore and Wipro at Rs 2,45,845.27 crore.

IT stocks gained on Friday as Q3 results season began with TCS.