Tata Consultancy Services (TCS) became the first company in India to cross the $100 billion mark in terms of market capitalisation after its share price surged over 3 per cent to hit its fresh lifetime high of Rs 3513.55 on the BSE. TCS shares rose today by 4 per cent to Rs 3,541, pushing the market capitalisation of India's biggest outsourcer to Rs 6,78,002 crore.
By definition, market capitalisation is the value of a company that is traded on the stock market, calculated by multiplying the total number of shares by the present share price.
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Market capitalisation of the IT giant has risen from Rs 47,232 crore to a mammoth Rs 6.78 lakh crore in 14 years of its listing - the highest among all Indian listed companies.
While reiterating its Buy rating on TCS and raising target price to Rs 3,700 per share (from Rs 3,250 earlier), global brokerage house CLSA said Q4 revenue beat estimates sharply, hence it upgraded FY19-20 revenue & EPS estimates by 1 percent. TCS had announced its earnings after market hours on Thursday. I always believed that the opportunity in the tech space for TCS is very large, the digital transformation is going to be a very reaping opportunity and we have been working on it as I have always maintained. The stock is now trading at Rs 3,509, up 3 percent. The Tata group flagship, which contributes around 85 per cent of the group's profit, reported a revenue growth of 8.2 per cent at Rs 32,075 crore for the three months to March.
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TCS is the leading the chart as the most valued firm followed by Reliance Industries Ltd (Rs 5,87,929.90 crore), HDFC Bank (Rs 5,08,884.23 crore), ITC (Rs 3,36,777.52 crore) and HUL (Rs 3,17,211.69 crore) in the top-five list.
"With robust deal wins and green-shoots in BFSI, there is definite possibility of double-digit revenue growth". The company had reported sales growth of 3.93 per cent in October-December and 4.29 per cent in July-September. A 1:1 bonus means that a shareholder will get one share for each share held by him/her.
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Chennai shares the lead with Kolkata Knight Riders, Sunrisers Hyderabad , and Kings XI Punjab , who all have three wins. SRH bowling department was at their very best as Chennai registered the lowest powerplay total of the IPL 2018 season.