TCS market cap crosses Rs 7-trillion mark; stock hits new high of Rs 3,668

Tata Consultancy Services (TCS) , the country's biggest software services exporter, saw its market capitalisation (market-cap) cross Rs 7-trillion mark, adter the stock price of the company hit a new high of Rs 3,668 on the BSE in early morning trade.
At 09:19 am; TCS was trading 1.7% higher at Rs 3,666 have market-cap of Rs 7.91-trillion, the BSE data shows.

Since April 19, TCS has outperformed the market by surging 16% after the company’s board had recommended bonus issue in the ratio of 1 equity share of Re 1 each for every 1 equity shares of Re 1 each held by the shareholders of the company as on the record date. On comparison, the S&P BSE Sensex was up 0.74% during the same period.

The company has fixed Saturday, June 2, 2018 as the record date for determining the entitlement of members to receive bonus shares in the ratio of 1:1. The stock will turn ex-bonus on Thursday, May 31, 2018.

TCS had also reported a strong set of numbers in March 2018 quarter (Q4FY18) as well as for 2017-18 (FY18), backed by all-round growth in key verticals and geographies, and digital services and solutions. The company posted double-digit revenue growth in dollar terms in Q4 for the first time in the last 12 quarters. The management was confident of sustaining this growth rate in the coming quarters.