According to the around 11 a.m., the m-cap of the company stood at Rs 675,934.95 crore or $101.60 billion on the BSE. Meanwhile the shares of the company rose over 4% to a new high of Rs 3,557 per share. Earlier on Friday, the IT major's shares rose over 7% to Rs 3,419.80 per share, taking its m-cap to over Rs 6.50 lakh crore or around $98 billion close to $100 billion mark.
Meanwhile Tata Group Chairman N Chandrasekaran as saying, adding that he always believed that the opportunity in tech space and TCS is very large and "It's a special moment, a moment we have been waiting for". Sources reported that the last Indian company that crossed the $100 billion threshold was Reliance Industries in 2007. Currently, RIL’s market cap is at $89.36 billion.
Accordingly the company's shares had surged a day after its quarterly results announcement, which reported a net profit for Q4 at Rs 6,925 crore up 4.6% from Rs 6,622 crore in the same period in 2017 and up 5.8% sequentially from Rs 6,545 crore a quarter ago. Further the consolidated revenue for Q4 grew 8.2% to Rs 32,075 crore from Rs 29,642 crore in same period year ago and 3.8% sequentially from Rs 30,075 crore quarter ago. The company added "Rs 26,800 crore of cash has been returned to shareholders in dividends and buyback during the fiscal.
