TCS now India's second richest

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TCS becomes India's second most valued co

For the second time within a week, Tata Group software services company TCS became the country's second most-valued firm with a market capitalisation of Rs 2.43 lakh crore, surpassing oil and gas major ONGC.

At the end of trade, Tata Consultancy Services (TCS) commanded a market value of Rs 2.43 lakh crore -- the second highest for any listed company in India. This is nearly Rs 13,000 crore more than state-run ONGC's market value of around Rs 2.30 lakh crore.

A sharp gain of 3.49 per cent in TCS' share prices pushed the company to the second position. In comparison, ONGC shares posted a gain of 2.22 per cent.

On April 24, TCS had dethroned ONGC from the slot after the IT company's shares jumped 13 per cent jump in a single session with investors cheering robust 2011-12 earnings and an upbeat FY13 outlook.

The market capitalisation of a listed company corresponds to the cumulative market price of all its shares. This figure changes daily with the change in the stock price.

Reliance Industries Ltd (RIL) remains the most valued company with a market capitalisation of Rs 2.44 lakh crore. On January 5, TCS had toppled RIL as the country's most-valued firm as shares of the billionaire Mukesh Ambani-led corporate giant plunged sharply. Besides, TCS had replaced RIL from the top position for the first time on December 30, 2011 -- the last trading session of that year.


-TOI
 
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