Mumbai: IT major Tata Consultancy Services (TCS) returned to the elite league of companies with a market capitalisation of over Rs 1 lakh crore— a feat currently shared by only four other Indian companies including ONGC, Reliance Industries, NTPC and Infosys.
TCS attained a market cap of about Rs 1,00,550 crore with a surge of 1.71 per cent in its share price to Rs 1,027.50 at the Bombay Stock Exchange.
The stock jumped more than 2 per cent to an intra-day high of Rs 1,035 late in the trading session.
The country's largest software exporter had first hit the 1 trillion bracket on April 18, but had failed to sustain at that level.
Currently, TCS is the second IT company after Infosys to enjoy a market cap of over Rs 1 trillion, while Wipro has also previously breached this level.
PSU oil exploration major ONGC leads the pack with a market-cap of over Rs 1.67 lakh crore, followed by corporate behemoth RIL with Rs 1.56 lakh crore, state run power generation major NTPC with market cap of over Rs 1.06 lakh crore and Infosys with total shareholder wealth of about Rs 1.01 lakh crore.
After corporate behemoth RIL and another IT major Infosys, TCS has become the third private sector company to have gained a market cap of over Rs 1 lakh crore, while other two— ONGC and NTPC— are public sector undertakings.
ONGC and RIL had first reached market cap of Rs 1 lakh crore on December 12, 2003 and August 2, 2005 respectively.
Wipro, whose current market-cap stands at about Rs 74,000 crore, is the only company to have attained a market cap of Rs 2 lakh crore, which was achieved on February 2, 2000.
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