TCS- 2nd Indian Company to Reach Rs 12 lakh Crore m-cap

Tata Consultancy Services Ltd (TCS) became the second Indian company to reach the market capitalization of Rs 12 lakh crore. This came after the strongest growth in the December quarter in nine years of the Information technology company.

Key Points

  • The share price of TCS increased by 3.5% to reach a 52-week high of Rs 3,230 on BSE.
  • This came after the company saw an increase of 7.17% on-year rise in the consolidated net profit equal to Rs 8,727 crore.
  • The consolidated net profit of TCS in the July-September quarter was Rs 7,504 crore.
  • In the December quarter, the company has seen the strongest growth in 9 years although Q3 was a seasonally weak quarter for the company. October-December quarter (Q3 FY21) was a beat on almost all counts with strong deal momentum, operating margins at 5 years high, and cash conversion rate at an all-time high.

First Indian Company to reach Rs 12 lakh crore m cap

Reliance Industries (RIL) was the 1st Indian company to achieve this market capitalization in July 2020. The market capitalization of RIL crossed the Rs 12 lakh crore mcap feat when shares of the company crossed the Rs 1,900 mark on the Bombay Stock Exchange (BSE). At present, the market capitalization of RIL is Rs 12.29 lakh crore.