MUMBAI: Software services and products primary Tata Consultancy Services (TCS) on Friday changed into the first Indian company to achieve a market valuation of Rs 7 lakh crore in intraday trades. But it closed the session a tad off that mark at Rs 6.nine lakh crore.
Earlier on Friday, its market cap touched a top of Rs 7.03 lakh crore. Some time ago this month, TCS had turn into the first Indian company to succeed in the $100-billion market cap mark. So a ways, the flagship from the Tata Group stays the one Indian company to achieve those two milestones.
In contemporary weeks, with the Indian rupee showing weakness towards different primary currencies, the stock costs of device exporters had been on an upswing. This is for the reason that depreciation of the rupee directly interprets into upper revenues for exporters who bill most in their overseas purchasers in bucks.
So a ways this 12 months, TCS’ stock price has gained about 33% in comparison to a 20% rise within the BSE’s IT index and a 2.6% acquire within the sensex. The IT primary has been basically boosted via robust effects and helped via the weakness of the Indian currency.
In terms of market cap, TCS is followed via Reliance Industries with Rs 5.eight lakh crore, HDFC Bank with Rs 5.2 lakh crore, HUL with Rs three.4 lakh crore and ITC with Rs three.three lakh crore.
Earlier on Friday, its market cap touched a top of Rs 7.03 lakh crore. Some time ago this month, TCS had turn into the first Indian company to succeed in the $100-billion market cap mark. So a ways, the flagship from the Tata Group stays the one Indian company to achieve those two milestones.
In contemporary weeks, with the Indian rupee showing weakness towards different primary currencies, the stock costs of device exporters had been on an upswing. This is for the reason that depreciation of the rupee directly interprets into upper revenues for exporters who bill most in their overseas purchasers in bucks.
So a ways this 12 months, TCS’ stock price has gained about 33% in comparison to a 20% rise within the BSE’s IT index and a 2.6% acquire within the sensex. The IT primary has been basically boosted via robust effects and helped via the weakness of the Indian currency.
In terms of market cap, TCS is followed via Reliance Industries with Rs 5.eight lakh crore, HDFC Bank with Rs 5.2 lakh crore, HUL with Rs three.4 lakh crore and ITC with Rs three.three lakh crore.
TCS 1st Indian co to cross Rs 7L-cr m-cap
![TCS 1st Indian co to cross Rs 7L-cr m-cap]()
Reviewed by Kailash
on
May 26, 2018
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