TCS crosses record Rs 5 lakh crore market cap

India’s largest software outsource company, Tata Consultancy Services (TCS) on Wednesday achieved a milestone when it crossed Rs 5 lakh crore market value.

TCS becomes the second most valuable IT services firm in the world only behind IBM.

At the end of yesterday’s trade, TCS’s market capitalisation increased to Rs 5,06,703.34 (about $84 billion) since it was listed a decade back and becoming the first Indian company to reach this feat.

TCS beat Accenture’s ($51 billion) cap with significant margin and only behind the leader IBM with $193.7 billion market capital.

TCS’s record market cap is also larger than combining other four domestic IT players. Infosys ($31.7 billion), Wipro ($23.3 billion), HCL Technologies ($17.9 billion) and Tech Mahindra ($8.5 billion) are way behind TCS.

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