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Software giant Tata Consultancy Services (TCS) crossed the Rs 4 lakh crore-mark for the third time in a month, even as the stock hit an all-time high on Monday.
The total market-cap of TCS stood at Rs 4.07 lakh crore by the end of day's trade, the highest ever on a closing basis. The share price of the company touched an intra-day high of Rs 2,094 per share before closing 2.5 per cent higher at Rs 2,084.05 per share.
At present, TCS is the most-valued company and the only one to have a market-cap of Rs 4 lakh crore. It is, however, the second company after Reliance Industries to cross the Rs 4 lakh-limit. RIL had touched the Rs 4 lakh crore-limit first in 2008.
Analysts said that the rise in the company’s stock price was owing to the expectation of good September quarter earnings number. “TCS has consistently been outperforming and posting good results for the past few quarters. This time also the market expects the company to do well,” said Sunil Jain, vice-president, equity research, Nirmal Bang Securities.
The company’s stock price in the last one-month has moved up by about 3 per cent. However, some sections of the market believe that the stock could be over-valued.
According to analysts, the expectations from the company’s performance has been very high and could see huge negative impact on the stock if September-quarter results prove contrary to expectations.
