TCS rallies 4%, hits record high; market-cap nears Rs 13-trillion mark

Shares of Tata Consultancy Services (TCS) rallied nearly 4 per cent to Rs 3,479.35 and hit a new high on the BSE in the intra-day trade on Friday. The stock of the information technology (IT) consulting & software giant surpassed its previous high of Rs 3,399, touched on June 25, 2021.

A sharp rally in stock price propelled TCS’ market capitalisation (market-cap) towards Rs 13-trillion mark, at Rs 12.87 trillion, in the intra-day trade today. Reliance Industries, with an m-cap of Rs 13.53 trillion, stands at number one position in the overall market-cap ranking.

TCS, part of the Tata group of companies, announced earlier today that the company has been named to the Microsoft Business Applications 2021/2022 Inner Circle, for the second consecutive year.