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Shares of Tata Consultancy Services (TCS) hit a new high of Rs 3,694.25, up 2.3 per cent on the BSE in intra-day trade on Wednesday and became the second listed company to cross the Rs 13.5 trillion market capitalization (market cap). The stock of the information technology (IT) giant surpassed its previous high of Rs 3,672.50 touched on Monday, August 23, 2021.
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In the past one month, TCS has outperformed the market by surging 15 per cent, as compared to a 6 per cent rise in the S&P BSE Sensex. The sharp rally in the stock price helped TCS’ market cap rise to Rs 13.65 trillion. TCS is less than 3 per cent away to hit the Rs 14 trillion market cap mark. It currently stands at second position in the overall market cap ranking, behind Reliance Industries which has a market cap of Rs 14.51 trillion, including partly paid shares market cap, according to the BSE data. TCS is one of the leading IT service providers with a presence in the BFSI.
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