TCS propels Tata group into Rs 10-trillion club; shares hit lifetime high
Tata Consultancy Services (TCS) has played a major role in establishing Tata Company as the first private business group to enter the Rs.10 trillion market capitalization league. The double-digit rally in the TCS Share price in the current year made this to happen. TCS shares hit the lifetime high when on Friday shares closed at Rs.3406. At the current price, shares of TCS are valued at Rs.6.52 trillion, a whisker away from the $100 billion mark. There are 27 companies listed under the Tata Group which now have combined the market capitalization of Rs.10.7 trillion increased by 11.2% during the current calendar year. The TATA Company group had a combined market capitalization of Rs.9.6 trillion by the end of December 2017. By now, TCS is all set to enter the league of the 100 most valuable companies of the world. At present, TCS is ranked 103, ahead of British Pharmaceutical Company, GSK (GlaxoSmithKline). Interestingly, the Indian currency has come off by 1.7% in the last two week s from 65 to 66.11 against the greenback. Among large group companies, TCS is the single-biggest contributor to the incremental growth in the Tata group’s market cap, followed by Titan Company and Indian Hotels.