Tata Consultancy Services (TCS), India's most valuable company based on the market capitalisation, crossed the mark of Rs 5,00,000 crore in market cap during the morning trade on Wednesday. It's market cap now stands taller than the combined market cap of the other top four IT players as well as that of the other listed companies in the stable of the parent, Tata Sons.
At 11.20 am, TCS traded at Rs 2,571.6, resulting into a market cap of Rs 5,03,794 crore. The combined market cap of the other four IT players in the pecking order including Infosys, Wipro, HCL Technologies, and Tech Mahindra was Rs 4,88,066 crore.
The combined market cap of 30 odd listed companies other than TCS in the Tata Group was Rs 3,44,460 crore.
The TCS stock has gained 47% over the past year following a stellar financial performance. It has remained a stock of preference among portfolio managers despite the recent exodus of market participants to stocks in core sectors.
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