Upon reaching a summit of Rs.3 lakh crore in market capitalization, IT major Wipro, hails as the third most valued company among the Indian information and technology companies for the first time after TCS and Infosys rank first and second positions.

Speaking of market capitalization, the IT major rises as the 14th company across all listed companies to hit Rs.3 trillion in the area.

In the wake of its tarde, the IT major’s shares touched a new high of Rs.550 per share to up to 1.27 percent from the previous closing of Rs 543.05 per share on the BSE.

Previously, its market capitalization was Rs 3.01 trillion at the time.

The stock is currently trading at a day's low of Rs 538.6 per share, down 0.7 percent.

For one year straight its shares have rallied under the strategies of its CEO, Thierry Delaporte.

With volatile trading in the last five sessions, Wipro has risen over 11 percent in the last month and 157 percent in the last year, while it has grown nearly 40 percent year-to-date.

Also, the company reported strong first quarter results, despite COVID-19’s second wave, with revenue from its IT services segment expected to climb by five to seven percent in the September-ended quarter of fiscal year 2021-2022.

Wipro's gross sales increased 12.2 percent quarter over quarter and 22.4 percent year over year to Rs 18252.4 crore, while its IT Services segment revenue increased 12.2 percent QoQ and 25.7 percent year over year to $2,414.5 million in the first quarter of FY21.

The company also won its largest agreement ever with German retailer Metro, totaling $7.1 billion in revenue.

Coming to TCS and Infosys, the former has a market capitalization of Rs 11.5 trillion, whereas Infosys is valued at around Rs 6 trillion.

TCS is the second-largest firm by market capitalization, after Reliance Industries, which has a market capitalization of approximately Rs 14 trillion.

Infosys on the other hand, rose as the fourth Indian firm to hit Rs.7 trillion in the market capitalization, once its shares crossed 71 percent last year.

With a market capitalization of $7.01 trillion, the stock reached an all-time high of 1644.05 on the BSE. The stock closed at 1644, up 0.7 percent from the previous close. It has increased by almost 31 percent so far this year.

The stock has been rising since the company raised its revenue guidance for fiscal year 2022 from 12-14 percent to 14-16 percent in constant currency.

The company's operating margins were kept at 22-24 percent.