Rally in TCS Stocks: On Friday, TCS shares witnessed a sharp rise before the quarterly results.
Rally Continue in TCS Stocks: Before the quarterly results on Friday, TCS shares are seeing a sharp rise. TCS has gained about 8.5 percent in the 3 business days of January. With this rise, the buyer reached its all-time high of Rs 3114. TCS stock closed at Rs 2870 on 31 December. In terms of the rupee, investors have gained Rs 244 on every share in 3 days. Meanwhile, the market cap of TCS has gone beyond 11.60 lakh crore today. If the quarterly results are better, then it could soon join the 12 lakh crore club with RIL.
TACS shares rose nearly 2 per cent in today’s trade and reached a record high of 3112 on the BSE. On the NSE, the share price reached Rs 3,114.25. TCS closed at Rs 3039.25 on BSE on Monday. In today’s business, the market cap of TCS reached 11.68 lakh crore.
91000 crore investors’ wealth increased in 3 days
TCS’s stock buyback program closed on 1 January 2021. TCS has been on the upswing since the share buyback program last month. At the same time, from the low of March, TCS has gained more than 100 percent. In March, the stock hit 1504 rupees.
At present, the market cap of TCS on BSE has increased by about Rs 91000 crore in the last 3 days. There are also better expectations from the third-quarter results, which has strengthened the sentiment of investors. If the stock rises more than the current price, the market cap could reach 12 lakh crore. Right now RIL is at number one in terms of market cap with around 12.5 lakh crores.
Recently 11 million crores were Mcap
On December 28, TCS’s market cap had crossed 11 lakh crore for the first time. TCS is the second company to join the 11 lakh market cap club. Prior to this, Reliance Industries has achieved this position.
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. At the same time, the company’s market cap had increased to 10.03 lakh crore. Since then, the company has taken about 2 months and 23 days to increase its market cap by 1 lakh crore.