Tata Consultancy Services (TCS) shares set a record high of Rs.3,694.25, up 2.3 percent in intra-day trading on the BSE, becoming the second listed company to surpass the Rs 13.5 trillion market capitalization mark (market cap). The stock of the information technology (IT) behemoth has surpassed its previous high of Rs 3,672.50 set on Monday, August 23, 2021.

TCS has outpaced the market by 15 percent in the last month, compared to a six percent rise in the S&P BSE Sensex. TCS' market capitalization increased to Rs 13.65 trillion as a result of the substantial jump in the stock price.

The IT major is said to be less than three percent away from achieving a market capitalization of Rs 14 trillion. According to BSE data, it is now ranked second in terms of overall market capitalization, behind Reliance Industries, which has a market capitalization of Rs 14.51 trillion, including partially paid shares.

TCS is a renowned IT service company with operations in the BFSI, communication, manufacturing, retail, and hi-tech industries. In the fiscal year that ended March 31, 2021, the company achieved consolidated revenues of $22.2 billion dollars.

Analysts believe the company is well-positioned to gain from the solid demand environment, increased cloud use, and possibilities for digital transformation in the future.

In the Q1FY22 result update, it was noted that analyst at Emkay Global Financial Services said that the IT major’s management also remains confident about the revenue growth trajectory in FY22 on broad-based demand, strong deal intake ($8.1 billion in Q1, which is about 17 percent YoY), healthy deal pipeline, and traction in the cloud, cyber security, analytics, and enterprise application services.

It’s observed that organic sales growth has been on the constant flow, and the company maintains industry-leading margins.

Most recently, the company has received numerous awards from a variety of organizations.
In the HFS Top 10 for Supply Chain Services, it is one of the top four providers.

Additionally, the IT major was also selected MongoDB Global System Integrator Partner of the Year for its daring, innovative solutions that help businesses across industries accelerate their growth and transformation journeys. In the NelsonHall NEAT for CX Services in BSFI, it was likewise recognized as a leader.

Speaking on how the IT major gets its juice, an analyst at HDFC observed that TCS's growth drivers entail a calibrated focus on upstream/consulting business (larger share of growth and transformation), increasing the addressable market/pipeline, increased outsourcing (Europe), core transformation deals, and strong growth in public hyper-scale services, strong deal wins in the retail & consumer packaged goods (CPG) vertical and increased deal volumes (not TCV) in BFSI, and neaps in the public hyper-scale services.