Mumbai: Tata Consultancy Services crossed ₹15 lakh crore in market capitalisation on Tuesday, becoming only the second Indian company to do so after Reliance Industries. Overall strength in the technology space helped shares of the flagship company of the Tata group surge 4.4% intraday to a lifetime high of ₹4,149.9, before closing 4% higher at ₹4,136 on the NSE.
The country’s largest software services company, which made its stock market debut in 2004, was the first ever to cross the ₹5-lakh crore mark in 2014. Its market capitalisation surpassed ₹10 lakh crore in 2020. The market capitalisation of Reliance Industries, the most valuable Indian company, stood at ₹19.33 lakh crore on Friday
“Some of the heavyweights in this sector are at their all-time highs, and they are above their call (options) bases, so a further uptrend in the space cannot be ruled out,” said Raj Deepak Singh, analyst at ICICI Securities. Further gains could also come on the back of a strong underlying sentiment for domestic equities, he added.
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