TCS logs in record highs, surpasses Rs 15 lakh crore in market capitalisation

TCS at all time high

The market capitalisation of TCS has crossed Rs 15 lakh crore for the first time as the IT bellwether hit record highs on February 6. At 12.40pm, the stock was trading 3.7 percent up at Rs 4,125, after making an intraday high of Rs 4,135 per share.

The Nifty IT index gains the most among the sectoral indices, up by 2.23 percent, on a day when the Nifty 50 is up 0.65 percent.

TCS is the top Nifty IT gainer after Wipro, HCL Tech and Mphasis, which rallied more than 3 percent each.

Fresh long build-up is seen in TCS with the OI rising 3.5 percent. Mamixum put writing is seen at 4,000 strike price and call writing is seen at 4,300 and 4,200 levels.

In the recent quarter, TCS announced marginal improvement in revenues, while reporting healthy margin expansion. For the Q3FY24, the operating margins expanded 75 basis points on-quarter and 48 bps on-year. TCS also announced encouraging deal wins while registering a Total Contract Value (TCV) of $8.1 billion.

TCS and Infosys put together are seen contributing to 66 percent of the BSE Sensex gains with TCS alone making 34 percent of the index gains. The BSE Sensex is up 383 points with Maruti leading the gainers.

On a year-to-date basis, Persistent Systems is the top Nifty IT index gainer, up by 17 percent followed by Infosys, which is up 11 percent and TCS that has gained 8 percent.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.