Mumbai, April 2: 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.