Mumbai, Sept 22: Tata Consultancy Services has
replaced Infosys Technologies as the country's biggest IT firm
and second biggest private sector company in terms of the
market capitalisation.
TCS, the country's largest software exporter, on Friday
achieved a market cap of Rs 1.02 lakh crore, surpassing Rs
1.01 lakh crore of its closest rival in the IT space Infosys.
TCS has also replaced Infosys as the country's fourth
most valued publicly listed corporate entity after state run
energy giant ONGC, Reliance Industries and PSU Power
Generation Major Ntpc.
TCS had re-entered the Rs 1 trillion market-cap league
earlier on September 20.
Wipro retained its position as the third largest IT firm
with a market cap of Rs 74.5 lakh crore at the end of today's
trading session.
TCS had attained a market cap of about Rs 1,00,550 crore
with a surge of 1.71 per cent in its share price to Rs
1,027.50 at the Bombay Stock Exchange.
The country's largest software exporter had first hit the 1
trillion bracket on April 18, 2006, but had failed to sustain
at that level.
Currently, TCS and Infosys are the only two IT companies
with a market cap of over Rs 1 trillion, while Wipro has also
previously breached this level.
Wipro, whose current market-cap stands at about Rs 74,000
crore, is the only company to have attained a market cap of
Rs 2 lakh crore, which was achieved on February 2, 2000.
Bureau Report
