Stocks

TCS m-cap hits ₹12 lakh crore on robust Q3 numbers

Our Bureau Mumbai | Updated on January 11, 2021 Published on January 11, 2021

Tata Consultancy Services’ stock hit a market cap of ₹12 lakh crore during the morning trade on Monday.

On Friday, the company posted its strongest third-quarter growth in nine years and said it would end FY22 with double-digit growth.

The stock rose 3.12 per cent to a record high of ₹3,224 on BSE on Monday, taking the m-cap to Rs 12.07 lakh crore. TCS stock price also opened at a record high of ₹3,230 on the NSE.

 

TCS posted a net profit of ₹8,727 crore in the December-ended quarter, a 16 per cent growth over the ₹7,504 crore in the September-ended quarter. Profits rose by 7.1 per cent on a year-on-year basis.

Revenues stood at ₹42,015 crore, a 4.7 per cent increase sequentially (₹41,049 crore in the September-ended quarter). Year-on-year, revenues were 5.4 per cent higher.

The shares opened at ₹3215.00 against the previous close of ₹3120.35.

After hitting the peak, the stock cooled off a bit.

 

At 11:45 am, TCS shares were trading at ₹3,171.00 on the NSE, up ₹50.10 or 1.61 per cent. On the BSE, the shares were trading at ₹3172.00, up ₹51.65 or 1.66 per cent. Currently, it's marker-cap stands at Rs 11.87 lakh crore.

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Published on January 11, 2021
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