TCS becomes first Indian company to breach $100 billion market capitalisation

Highlights

    TCS created history on Monday by becoming the first Indian company to reach the $100 billion market capitalisation (m-cap) mark
    At 10.30 am, the market value of the company stood at Rs 6,79,332.81 crore ( $102.6 billion)
NEW DELHI: Tata Consultancy Services (TCS), the country's largest IT outsourcing company created history on Monday by becoming the first Indian company to reach the $100 billion market capitalisation (m-cap) mark. The shares of the IT behemoth were trading 4 per cent above previous closing mark at Rs 3,545 on the BSE at 10.30 am, thus hitting an all-time high.

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.
At 10.30 am, the market value of the company stood at Rs 6,79,332.81 crore ( $102.6 billion).
Last week, when the markets closed on Friday, the company was at the verge of the milestone as the m-cap stood at slightly above $99 billion. TCS stock had surged more than 6 per cent on Friday.


The rise in the TCS scrip's fortune came after the it posted a rise of 4.5 per cent in its Q4 net profit. In the January-March quarter, the company reported a net profit of Rs 6,925 crore, up 4.57 per cent against Rs 6,622 crore posted in the same quarter last year. On top of that, the company announced a 1:1 bonus for its shareholders. This is the third bonus share offering by the company since its listing in 2004. TCS had allotted 1:1 bonus shares in 2006 and 2009.