TCS market capitalisation crosses Rs 13 trillion as stock hits new high

Tata Consultancy Services (TCS) became the second listed company and the first information technology (IT) company to cross the Rs 13 trillion market capitalisation (market cap) after its stock hit a new high on Tuesday.

The stock of TCS closed at Rs 3,552.40, up 2.32 per cent on the BSE. TCS’ stock, part of the Tata group of companies, quoted higher for the ninth straight trading day. Thus far in August, in 12 trading days, TCS has rallied over 11 per cent, against a 6 per cent rise in the S&P BSE Sensex.

The sharp rally in stock price helped TCS’ market cap rise to Rs 13.14 trillion. In terms of market cap, it stands at Number 2, behind Reliance Industries which has a market cap of Rs 14.36 trillion, according to the BSE data.