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TCS to be the first Indian company to cross Rs. 7 lakh crore market valuation

Company shares have gained nearly 35% this year
BY BEx Bureau
BusinessEx
May 28, 2018

Software services company, Tata Consultancy Services (TCS) on Friday became the first Indian company to achieve a market valuationof Rs 7 lakh crore in intraday trades. But it closed the session that marked at Rs 6.9 lakh crore.

In this month a few days back, TCS become the first Indian company to reach $100-billion market cap mark. The flagship from the Tata Group remains the only Indian company to achieve these two landmarks. Its stock price has gained about 33% compared to a 20% rise in the BSE's IT index and a 2.6% gain in the Sensex. The IT giant has been mainly uplifted by strong results and also because of the weakness of the Indian currency. The depreciation of the rupee directly translates into higher revenues for the exporters.

In terms of market cap, TCS is followed by Reliance Industries with Rs 5.8 lakh crore, HDFC with Rs. 5.2 crore, HUL with Rs. 3.4 lakh crore and ITC with Rs. 3.3 lakh crore.

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