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TCS Tops In Stock Market Trading By Gaining Rs 8 Lakh Crore M-Cap

On Friday, August 31, 2018, TCS (Tata Consultancy Services) regained its status in the stock market trading after a week by surpassing Reliance Industries Ltd (RIL), a report by Economic Times.

TCS is India’s largest IT company by turnover and the fifty years old Information Technology firm. This IT firm is backed by Ratan Tata, a billionaire industrialist, and philanthropist.

TCS topped Rs 8 lakh crore and became India’s most valued company according to market capitalization. Mukesh Ambani-controlled oil-to-textile-to-telecom conglomerate Reliance Industries Ltd (RIL) has surpassed TCS by grabbing the most valued place among all the listed companies on Indian stock exchanges.

In stock market trading, among all the components of headline indices Sensex and Nifty TCS shares have been the best performer yet in the present year. In the 8 months of 2018, TCS share has advanced a little more than 57 percent to Rs 2,082.4. Earlier in June this year, after the successful completion of share repurchase of similar quantum in the previous year, TCS has announced a mega share buyback of Rs 16,000 crore. Tata Consultancy Services has fixed the share buyback price at Rs 2,100 translated to be at a premium of 80 percent from the Thursday’s closing price of Rs 2,082.4 on National Stock Exchange.

Earlier in June this year, TCS announced a mega share buyback of Rs 16,000 crore after the successful completion of share repurchase of similar quantum in the previous year.

TCS Updates In BSE And NSE

At the close in stock market trading today, TCS share price touched an all-time high level of Rs 2090.50, up 0.53 percent on Bombay Stock Exchange (BSE), while on National Stock Exchange (NSE), the stock touched a lifetime high of Rs 2,092, up 0.46 percent. On the basis of a record high, a share price of TCS at Rs 2,090.5 and registered Rs 8 lakh crore (Rs 8,00,363.64 crore) on BSE by market capitalization. TCS shares closed at 2078.20, down 0.06 percent on BSE on Friday with a market capitalization of Rs 7.96 lakh crore, a report by Financial Express. In the CY 2018, TCS has breached the market capitalization of Rs 6 and 7 lakh crore respectively.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Shabnam Dhar is a Copy Editor for OWLT Market.

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