IT behemoth TCS (Tata Consultancy Services) stock prices scaled new heights on 17 August 2021. The company has added over a percent in intraday trading on 17 August 2021. On BSE, TCS stocks were trading at a record high of Rs. 3520. The same was Rs. 3517.55 on NSE. The stock was upped by Rs. 45.80 or 1.32%.
This rise in stock prices has pushed the market capitalisation of Tata Consultancy Services to cross the Rs. 13 lakh crores mark. This move has also pushed the Nifty IT index by a percentage led by TCS, Tech Mahindra, Mindtree, Mphasis, and others.
TCS is the first Indian IT Company and second company after Reliance Industries to cross this Rs. 13 lakh crore mark.
This Move is Not a Sudden One!
For nine days straight, TCS’ stock has been quoting higher, and in 12 trading days of August, this stock has rallied 11%, compared to the 6% rise in the S&P BSE Sensex.
So, it is fair to mention that this jump in market valuation and rise in stock price was not due to any sudden movements. This has been a long time coming, and TCS has shown similar growth potential in previous instances as well.
With its current market capitalisation of Rs. 13 lakh crores, the company is well-positioned in the market cap ranking. Tata Consultancy Services follows Reliance Industries on this list, with a market capitalisation of Rs. 13.80 lakh crores, as per BSE data.
Supply Chain Has Been a Major Contributor in Diversifying TCS’ Portfolio
According to the reports of HFS Research, TCS has been one of the top four supply-chain service providers. The company has ranked first in terms of breadth and depth of service offerings and excellence in delivery. It has also ranked second in scale, expertise, experience, strategy and vision.
One of Tata Consultancy Services’ senior executives has pointed out the importance of an effective and efficient supply-chain system. He mentioned AI-driven approach has the potential to transform this sector and bring sustainability.
He also stressed on the fact how TCS has distinguished itself from others owing to its approach towards this sector. A collaborative approach led by consultation and innovation, TCS focuses on delivering tailor-made solutions for particular industries. He expressed how TCS’ aim is to deliver the best of automation, but at an affordable price.
Tata Consultancy Services is one of the leading IT service providers in India and globally. The company has a strong presence in BFSI, manufacturing, communication, and retail. In the last quarter, TCS has reported a consolidated total income of Rs. 46,132 crores, noting a growth of 3.35% from the previous one. Moreover, the company has reported a net profit after tax of Rs. 9,031 crores.
Considering such a strong performance in the previous quarter, one can only be hopeful that this rally of TCS’ stock is not stopping here.
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Frequently Asked Questions
- What is the face value of TCS’ share?
The face value of TCS’ share is Rs. 1 per share.
- What is the latest interim dividend issued by TCS?
The latest interim dividend issued by TCS is 700% or Rs. 70,000 per share.
- What are the listed peers of TCS in India?
Infosys, HCL Technologies, Tech Mahindra, Wipro, and L&T Infotech are the listed peers of TCS in India.