TCS first Indian company to achieve $100 billion m-cap

Mumbai April 23 (IANS) IT bellwether Tata Consultancy Services (TCS) on Monday emerged as the first Indian listed company to cross the $100-billion mark in terms of market capitalisation (m-cap).

Around 11 a.m. the m-cap of the company stood at Rs 675 934.95 crore or $101.60 billion on the BSE.

Shares of the company rose over four per cent to a new high of Rs 3 557 per share.

On Friday the IT major s shares rose over seven per cent to Rs 3 419.80 per share taking its m-cap to over Rs 6.50 lakh crore or around $98 billion -- close to the $100 billion mark.

The company s shares had surged a day after its quarterly results announcement which reported a net profit for Q4 at Rs 6 925 crore -- up 4.6 per cent -- from Rs 6 622 crore in the same period in 2017 and up 5.8 per cent sequentially from Rs 6 545 crore a quarter ago.

It also announced 1:1 bonus shares of Re 1 face value to its investors at the end of fiscal 2017-18.

--IANS
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