During market hours, the m-cap of the company touched around Rs 675,934.95 crore or some $101 billion ($1=Rs 66.395) on the BSE (around 11 a.m.). Currently, RIL's market cap is at $89.36 billion, reports Mint. TCS shares rose today by 4 per cent to Rs 3,541, pushing the market capitalisation of India's biggest outsourcer to Rs 6,78,002 crore. "TCS has been able to create value consistently by making the right investments not only in terms of technology, but also in terms of creating capabilities, building leadership and talent, seeding new markets and developing scalable world-class solutions", N. Chandrasekaran, Chairman, Tata Sons, said in a statement. "The above factors cumulatively indicate that earnings growth rate can jump nearly 3x from a mere 3-5% over FY16-18 to 13-15% over FY21", Edelweiss analysts said in the report.
Shares of TCS also surged almost 5 percent during intra-day trade on the country's equity benchmark index, Bombay Stock Exchange.
Market Capitalisation is defined as the value of a company that is traded on the stock market.
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According to The Times of India, shares TCS shares were trading at an all-time high this morning - 4 per cent higher than what they closed at in the previous session on the BSE - at ₹3,545.
Rajesh Gopinathan, CEO and Managing Director of TCS, said employees and customers had played an instrumental role in helping the company achieve the milestone.
"Last year, we had crossed $ 3 billion (in digital revenue)..."
The increase in the TCS capital came after it reported a net profit of Rs 6925 crore, a 4.5 percent increase in its net profit in the fourth quarter (January-March). On top of that, the company announced a 1:1 bonus for its shareholders.
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TCS was listed in 2004 and gradually scaled up the ladder to become the country's largest software services company.
As part of its "Business 4.0" strategy, TCS is looking at new age-technologies like automation, cloud and Internet of Things (IoT) driving digital revenues of the company to over Dollars 5 billion this year.
He added that the "Digital era" is going to be a large opportunity for TCS. "Over the past 5-odd years, TCS' average forward PE multiple stands at 19.3 times against 16 times for Infosys, implying an average PE premium of over 20 per cent for TCS", said Harit Shah, Senior Analyst - IT, Reliance Securities.
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