TCS market cap reaches $200 billion as shares hit new highs

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TCS had a market cap of round Rs 14.63 lakh crore ($199.1 billion) at Wednesday’s shut.

New Delhi: IT companies main Tata Consultancy Companies (TCS) on Wednesday touched the $200 billion market capitalization mark as its shares hit a lifetime excessive in intraday commerce. The inventory moved to an all-time excessive of Rs 3,980 earlier than closing up 1.79% at Rs 3.954.80. The market capitalization or m-cap of the corporate was round Rs 14.63 lakh crore ($199.1 billion).

Previous to this, Reliance Industries (RIL) was the one listed firm in India with a market valuation of over $200 billion. The present m-cap of RIL is Rs 15.08 lakh crore ($205.2 billion).

Total, the IT sector is performing effectively amid the COVID-19 pandemic because of the improve in digital actions. Shares of Infosys closed at Rs 1,711, up 1.49% at this time. The corporate’s m-cap rose to Rs 7.26 lakh crore ($98.8 billion).

In one other set of developments, TCS has been named a frontrunner in IDC Marketscape for Worldwide Life Science R&D Strategic Consulting Companies, the corporate stated in a notification to the exchanges.

The aim of the IDC Marketscape vendor analysis mannequin is to supply an summary of the aggressive health of ICT (data and communication expertise) suppliers in a given market.

“The pandemic has introduced unprecedented collaboration and acceleration within the R&D initiatives of life science corporations. These corporations are partnering with TCS to develop the best transformation technique, use next-generation applied sciences equivalent to AI, IoT and Blockchain to speed up and increase their R&D packages, drive enterprise outcomes and obtain purpose-based development. We’re doing it for you,” stated Vikram Karakoti, International Co-Head, Life Sciences, TCS.

TCS stated it has invested closely in analysis and innovation capabilities within the life sciences. The corporate stated its genomics laboratories present capabilities equivalent to DNA sequencing, marker validation and translational analysis.

Final week, TCS introduced that Avianca, one of many main airways in South America, had chosen it as a strategic companion in its cloud transformation journey.