TCS Market-Cap: Following the blockbuster performance in the December quarter of FY 2021, Tata Consultancy (TCS) shares have seen a sharp rise today. Today, TCS shares rose 3% to a new record level of Rs 3224 in intraday. On the NSE too, it jumped by 3.5 percent to reach an all-time high of Rs 3230. With this, the market cap of TCS has crossed 12 lakh crore rupees in the business of Monday i.e. January 11. TCS is the second company in the country to join this club, while the first IT company. Apart from TCS, RIL has crossed 12 lakh crore market cap so far.
Close to back RIL
TCS is once again approaching RIL in terms of market cap. The market cap of RIL is seen around 12,11,118.45 lakh crore in the January 11 business. That is, if the level of TCS shares rises somewhat more, then it can be level cross. Let us know that TCS shares have been steadily rising and it is continuously making new highs.
TCS gained 14 in 3 months, RIL dropped 15
Talking about the last 3 months, there is a positive trend in TCS shares. During this period, TCS shares have gained about 14 per cent. Between 12 October 2020 and 11 January 2021, the stock rose from Rs 2831 to Rs 3224. At the same time, RIL fell about 15 percent during this period. During this time, the stock weakened from Rs 2237 to Rs 1908 level.
TCS: Rapidly increased market cap
On December 28, TCS’s market cap had crossed 11 lakh crore for the first time. That is, in less than 1 month, the market cap has gone from 11 lakh crore to 12 lakh crore. Prior to this, TCS joined the 10 lakh crore market cap club on 5 October 2020 itself. During that time, the stock had gained more than 6 per cent and reached a price of Rs 2679.
On the other hand, RIL touched the 14 million crore market cap last year. On 16 September 2020, RIL’s stock reached a record high of Rs 2,368.80.
Why TCS can soon become number 1 company
Since the third quarter closing, brokerage house Jefferies has given a target of Rs 3720, recommending the purchase of TCS shares. JP Morgan has also given an overweight rating on TCS and has set a target of Rs 3450 in the stock. According to the brokerage, TCS has surprised the third-quarter results. This has been the strongest quarter in the last 9 years. Management has presented strong commentary on further growth. Revenue and margins have been better than expected. Margin has increased even after the wedge hike and new hiring, which is a big positive factor. The company’s order book is strong. There is a possibility of further growth.