Tata Consultancy Services crossed the ₹13-lakh crore mark in market capitalisation, recording fresh highs on Tuesday. At 1:30 pm, TCS was trading at ₹3522.55 on the BSE, up ₹50.80 or 1.46 per cent. It recorded a fresh 52-week high of ₹3,530.00. The company’s M-cap stood at ₹13,03,083.32 crore.

TCS had opened at ₹3,484.45 on the BSE against the previous close of ₹3471.75. It hit an intraday low of ₹3464.00. On the NSE, it was trading at ₹3,522.40, up ₹49.45 or 1.42 per cent. It recorded a fresh 52-week high of ₹3528.90. IT stocks have been in focus as benchmark indices continue to scale new peaks with investors focusing on blue-chips such as TCS.

According to Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the recent market rally has been led by high-quality blue-chips in performing sectors like IT, financials and telecom.

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“IT majors like TCS, Infosys, Wipro and HCL Tech are leading from the front. Investors have confidence in IT since this segment is on an expansion cycle which is expected to last 3 to 4 years,” Dr Vijayakumar had said on Friday after the BSE Sensex had crossed the 55,000 mark.

TCS had had announced a 28.5 per cent increase in net profit to ₹9,008 crore during the first quarter of this fiscal compared to ₹7,008 crore in the same period last year. But, on a sequential basis, the profit fell by 2.5 per cent compared to ₹9,246 crore in Q4 of FY21.

The company’s consolidated revenue from operations jumped to ₹46,132 crore in the first quarter from ₹38,920 crore in the same period last year. Analysts have remained positive on the stock owing to a strong deal momentum led by cloud adoption and digital transformation.

Separately, the company on Tuesday announced that it has been ranked among the top four supply chain service providers, as per a report by HFS research.

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The report analyses 11 leading service providers across innovation, execution, and voice of the customer. It looks at supply chain IT, business, and consulting services across supply chain planning, order management, inventory management, sourcing and procurement, aftermarket services, and sustainability.

“TCS was ranked number one for breadth and depth of offerings and delivery excellence and among the top two for scale and experience, expertise, as well as strategy and vision,” the company said in an exchange filing.

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