Tata Consultancy Services (TCS) has become the second company to achieve a market cap of Rs 13 lakh crore. Yesterday its market cap crossed Rs 13 lakh crore. Today it is beyond Rs 13.18 lakh crore. In December 2020, the company had crossed the Rs 11 lakh crore mark.
Its shares have seen a rise of 15% in the last 1 month. This morning its stock has reached a new level of 52 weeks. Today it is trading at Rs 3,550 with a slight increase. Whereas 1 month ago it was at Rs 3,100. TCS is the largest IT company in the country. Recently its results have been very good.
Its shares were seen up 2.28% yesterday. With this, it has reached close to the market cap of Reliance Industries. The market cap of Reliance Industries is Rs 13.70 lakh crore. Talking about this month, the BSE Sensex has gained just 6% while the TCS stock has gained 11%. Due to the new high level of Sensex, the shares of blue chip companies have been rising. Sensex has crossed 56 thousand. The total market cap is beyond Rs 241.60 lakh crore.
Target Rs 3,650
HDFC Securities has a target of 3,650 for TCS share. The brokerage firm says that the company is expected to perform well in the near term. Similarly, the dropout rate of employees in TCS is very low as compared to other IT companies. This is about 7% compared to its total workforce. Edelweiss has said that the company has several deals in the pipeline. It also has a strong order book. This will lead to good growth for the company.
Market cap was 11 lakh crore in December
In December 2020, it had crossed the Rs 11 lakh crore mark. There are a total of 28 companies listed in the Tata Group. Whereas a total of 4 companies of HDFC Group are listed. There are 6 companies listed in Reliance Group. TCS in Tata, HDFC Bank in HDFC Group and Reliance Industries in Reliance are the largest companies in terms of market cap.