TCS is now 2nd company after Reliance Industries to hit Rs 13 LAKH CRORE market-cap on BSE; stock gains 2.5%

Surging for the nine straight sessions, Tata Consultancy Services (TCS) shares on Tuesday hit a new life high to Rs 3560 apiece, surging 2.5 per cent on the BSE intraday trade. The IT major became the second listed company after Reliance Industries to cross the Rs 13 lakh crore (trillion) market capitalisation today. RIL has the highest market capitalisation over Rs 13.8 lakh crore (trillion), as per the data available on the BSE.

TCS has also become the first information and technology heavyweight to surge to over 13 lakh crore as its market capitalisation on Tuesday.

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One of the major Tata Group companies — TCS shares in the last 12 trading sessions in August has rallied 11 per cent, against a 6 per cent rise in the S&P BSE Sensex. A sharp rally in share price aided the TCS' market-cap jump to Rs 13.02 lakh crore (trillion).

The company in the last week has received multiple accolades from various institutions. It has been ranked among the top four providers in the HFS Top 10 for Supply Chain Services.

The IT heavyweight has also been named the MongoDB Global System Integrator Partner of the Year for its bold, innovative solutions that accelerate the growth and transformation journeys for businesses across industries. It was also recognised as a leader in the NelsonHall NEAT for CX Services in BSFI. 

The company has reported a jump of 35.8 per cent YoY in the Q1 profit, while 19.3 per cent surge in the Q1 revenue in the June-ended quarter of the financial year 2021-22.

TCS is one of the leading IT service providers with a presence in BFSI, Communication, Manufacturing, Retail & Hi-Tech verticals. The company has posted consistent organic revenue growth and industry-leading margins (>25 per cent).