TCS hits a milestone
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Mumbai: Shares of Tata Consultancy Services on Friday attained a milestone when its market valuation briefly crossed the Rs 7-lakh crore mark. The country's largest IT services company becomes the first listed firm to achieve this level.
During intra-day trades, the market valuation of TCS rose to Rs 7,03,309 crore. This came after its share hit a new 52-week high of Rs 3,674. However at close of trade, the market cap of the company had slipped below the Rs 7-lakh crore mark and stood at Rs 6,87,123.96 crore. This came after the share pared its gains to close at Rs 3,589.45 - a drop of 0.43 per cent, or Rs 15.35, over the last close.
The IT major's shares have surged nearly 33 per cent so far this year. Market valuation had earlier this year gone past the Rs 6-lakh crore level, making it the second company to achieve the milestone after RIL. Last month, TCS had become the first Indian firm to close a session with over $100 billion market valuation.
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