Tata Consultancy Services shares hit their all-time high on Wednesday following which the IT major's market capitalisation crossed a record Rs. 5 lakh crore. Market cap is the value of a company's outstanding shares and is used to determine a company's size.
TCS is the first Indian company to achieve a market cap of Rs. 5 trillion. TCS' nearest rival in terms of market cap is state-run ONGC (Rs. 3.5 lakh crore). Reliance Industries, India's biggest company by sales, ranks third by market cap (Rs. 3.3 lakh crore) currently.
Among IT companies, TCS' market cap is more than the combined market cap of its nearest three rivals -- Infosys (Rs. 1.90 lakh crore), Wipro (Rs. 1.39 lakh crore) and HCL Tech (Rs. 1.07 lakh crore).
In dollar terms, TCS' market cap has surged to $83 billion (at 60 rupee per dollar), which is comparable to the BMW Group and drugmaker AstraZeneca, but far less than its global competitor IBM, which is valued at nearly $200 billion.
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