TCS' market valuation crosses Rs 12 trillion-mark helped by rally

The market valuation of Tata Consultancy Services (TCS) crossed Rs 12 trillion-mark at close of trade on Thursday, helped by a rally in its share price.

TCS topped the gainers' chart on Sensex, rising 2.89 per cent to close at Rs 3,250.15 on the BSE. During the day, it jumped 3.42 per cent to a record high of Rs 3,267.

Following the rally in stock price, the company's market valuation jumped to Rs 12,19,581.32 crore at close of trade on the BSE.

TCS is the second domestic firm after Reliance Industries Limited to achieve the milestone of crossing Rs 12 trillion in market valuation.

On Monday, the company's market valuation had risen to Rs 12,09,768 crore during the morning trade on the BSE.

TCS is the second most valuable domestic firm in terms of market capitalisation.

Reliance Industries Limited is the country's most valuable firm with a market valuation of Rs 12,42,910.75 crore.

The country's largest software services firm had on Friday reported a 7.2 per cent rise in consolidated net profit at Rs 8,701 crore for December 2020 quarter.

The stock has gained over 13 per cent so far in January.