The stock price of TCS, the country’s largest software exporter, jumped 6.76 percent to close at Rs 3406.40 on Friday, after being close to becoming the first $100 billion company in India in terms of market capitalisation. Currently, the full market cap of TCS is at Rs 6,52,082.92 crore ($98 billion) while the free-float market cap is at Rs 1,69,541.56crore ($25 billion).
In terms of equity volume, 5.54 lakh shares of the company were traded on BSE and over 56 lakh shares changed hands on NSE in the morning session.
The nearest company is Infosys which has the market value of Rs 2,57,344.77crore or $39 billion, which is less than half of TCS.
The stock price of TCS has jumped today on the back of good earnings it reported on Thursday. TCS reported a 4.4 percent growth on in its consolidated net profit at Rs 6,904 crore for the March 2018 quarter and its board recommended a 1:1 bonus share issue.
The company had reported a net profit of Rs 6,608 crore in the same period last fiscal, TCS said in a regulatory filing. The Tata Group company, which accounts for a lion’s share of the group’s overall profit, reported a revenue growth of 8.2 percent at Rs 32,075 crore for the said quarter, up from Rs 29,642 crore a year earlier.
“Strong demand in digital across all industry verticals and large transformational deal wins have made this one of our best fourth quarters in recent years. The strong exit allows us to start the new fiscal on a confident note,” TCS CEO and MD Rajesh Gopinathan said.
For the entire 2017-18, TCS saw its net profit dipping 1.7 per cent to Rs 25,826 crore, while revenue rose 4.3 per cent to Rs 1.23 lakh crore. At the end of March 2018, TCS had 3,94,998 employees with attrition rate at 11 per cent in IT services.
With Inputs From PTI