Market experts said this was a natural consequence of the sustained gains in the market
In the past month, TCS has outperformed the market by surging 15 per cent, as compared to a 6 per cent rise in the S&P BSE Sensex
On the National Stock Exchange (NSE), the shares had opened at Rs 1,750 apiece and then jumped to its 52-week high value of Rs 1,757
Thus far in the month of August, TCS has rallied 11 per cent compared with a 6 per cent rise in the S&P BSE Sensex
The m-cap of four listed arms is now equivalent to 82 per cent of the parent company's valuation
HCL Tech became the fourth Indian information technology (IT) firm to achieve the milestone after Tata Consultancy Services (TCS), Infosys and Wipro
The market capitalisation of BSE-listed companies jumped to a record high of Rs 2,38,95,478.59 crore, driven by a rally in stocks, where benchmark index also hit its lifetime peak of 53,402.03.
It accounts for 9.2% of group m-cap, highest in a decade
According to investment banking sources, the company is eyeing a valuation of between $20 billion and $25 billion
The market capitalisation of BSE-listed companies reached an all-time high of Rs 2,33,06,440.17 crore on Wednesday, mainly driven by optimistic sentiments in the broader market. At close of trade, the BSE Sensex jumped 134.32 points or 0.25 per cent to 52,904.05, registering its second straight session of gains. The market capitalisation of BSE-listed companies reached the new record high of Rs 2,33,06,440.17 crore at the end of the day's trade. Investors' wealth has jumped Rs 1,42,806.24 crore in the two days of market rally. "Despite negative global signals, domestic indices trimmed its early losses and soared high supported by robust Q1FY22 result expectations on IT sector and favourable economic outcomes," Vinod Nair, Head of Research at Geojit Financial Services, said. IT companies Tech Mahindra, HCL Tech and Infosys were the biggest gainers among the 30-share pack followed by L&T, Tata Steel, ITC and TCS. On the other hand, Maruti, HUL, Dr Reddy's, Nestle India and Titan ..
Their renewable energy and retail plans offer contrasting strategies; if they pan out, the consumer is the guaranteed winner
Reliance Industries, Tata Consultancy Services, Infosys, Hindustan Unilever, ICICI Bank and State Bank of India suffered losses in their market capitalisation
In the past three months, the stock of Bajaj Finserv has outperformed the market by surging 31 per cent as compared to a 6 per cent rise in the S&P BSE Sensex
Here are the best of Business Standard's opinion pieces for Saturday
While Nifty 50 reflects changes in 40 years, it also shows what is missing: Low-cost manufacturers at one end, and deep-value players at the other. Also missing are technology players, notes T N Ninan
On a closing basis, the bank's market cap was Rs 51,887 crore at the end of trading on Friday, surpassing its peers Punjab National Bank (PNB) and Bank of Baroda (BOB)
Facebook shares rose more than 4% after the ruling. The share price rise put Facebook's market capitalisation over $1 trillion for the first time
Tata Consultancy Services, HDFC Bank, Infosys, HDFC, ICICI Bank and State Bank of India saw gains in their market valuation
On a consolidated basis, firm's RoCE declined to 7.8% in the fiscal
Para 68 of the Budget announcement of 2021, exactly 30 years after 1991, could be the beginning of the next round of financial sector reforms