TCS, the Tata Group software services company, has come up as the country's second most-valued firm for the second time within a week. With a total market capitalisation of Rs 2.43 lakh crore, the company has surpassed oil and gas major ONGC. TCS is nearly Rs 13,000 crore more than state-run ONGC's market value of around Rs 2.30 lakh crore.
When TCS shares jumped 13 per cent up in a single session with investors cheering robust 2011-12 earnings and an upbeat FY13 outlook, TCS dethroned ONGC from the slot. A sharp gain of 3.49 per cent in TCS' share prices pushed the company to the second position. Whereas, ONGC shares posted a gain of 2.22 per cent resulting in a drop to third position.
On the other hand, securing its first position, Reliance Industries Ltd (RIL) remains the most valued company with a market capitalisation of Rs 2.44 lakh crore. On January 5, TCS had toppled RIL as the country's most-valued firm as shares of the billionaire Mukesh Ambani-led corporate giant plunged sharply. Besides, TCS had replaced RIL from the top position for the first time on December 30, 2011, which was the last trading session of that year.
Rising of TCS compare to other domain companies indicates the booming IT market and its amazing future possibilities in the country.
When TCS shares jumped 13 per cent up in a single session with investors cheering robust 2011-12 earnings and an upbeat FY13 outlook, TCS dethroned ONGC from the slot. A sharp gain of 3.49 per cent in TCS' share prices pushed the company to the second position. Whereas, ONGC shares posted a gain of 2.22 per cent resulting in a drop to third position.
On the other hand, securing its first position, Reliance Industries Ltd (RIL) remains the most valued company with a market capitalisation of Rs 2.44 lakh crore. On January 5, TCS had toppled RIL as the country's most-valued firm as shares of the billionaire Mukesh Ambani-led corporate giant plunged sharply. Besides, TCS had replaced RIL from the top position for the first time on December 30, 2011, which was the last trading session of that year.
Rising of TCS compare to other domain companies indicates the booming IT market and its amazing future possibilities in the country.
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