IT bellwether TCS on Monday created history by becoming the first Indian listed company to hit the coveted $100 billion m-cap figure. At 09:49 am, the market value of the company stood at Rs 6,62,726.36 crore.
On Friday, the company added over Rs 40,000 crore to its valuation and was just shy of achieving the milestone.
At 09:52 am, shares of the company were trading at Rs 3,478 apiece, up 2.10 per cent on BSE.
Consolidated net sales for the quarter rose 8.2 per cent to Rs 32,075 crore compared with Rs 29,642 crore in the year-ago quarter. The company had reported a sales growth of 3.93 per cent in October-December and 4.29 per cent in July-September.
In a message to the shareholders, Chandrasekaran said TCS is focussed on continuously creating value. "TCS will continue to do very well in the coming months and quarters," he further added.
Leading brokerages have raised their target price on Tata Consultancy Services’ stock by up to 28 per cent as the company’s March quarter earnings beat market expectations.
The biggest target price increase came from Jefferies while JM Financial, Edelweiss, CLSA, HSBC and Kotak Institutional Equities increased their target prices by 1-15 per cent.