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TCS market capitalisation hits $200 billion as shares jump to fresh highs

TCS market cap stood at round Rs 14.63 lakh crore ($199.1 billion) at closing on Wednesday.

New Delhi: IT providers main Tata Consultancy Companies (TCS) on Wednesday touched the $200 billion market capitalisation-mark as its shares surged to lifetime highs in intraday commerce. The inventory moved to an all-time of Rs 3,980 earlier than settling 1.79% greater at Rs 3.954.80. The corporate’s market capitalisation or m-cap stood at round Rs 14.63 lakh crore ($199.1 billion).

Earlier than this, Reliance Industries (RIL) was the one listed firm in India with a market valuation of over $200 billion. RIL’s present m-cap stood at Rs 15.08 lakh crore ($205.2 billion).

Total, the IT sector has been performing effectively amid the Covid-19 pandemic as a result of rise in digital actions. Shares of Infosys right now rose 1.49% to settle at Rs 1,711. The corporate’s m-cap surged to Rs 7.26 lakh crore ($98.8 billion).

In one other set of improvement, TCS has been named a pacesetter within the IDC MarketScape for Worldwide Life Science R&D Strategic Consulting Companies, the corporate acknowledged in a notification to the exchanges.

IDC MarketScape vendor evaluation mannequin goals to supply an outline of the aggressive health of ICT (data and communications expertise) suppliers in a given market.

“The pandemic has introduced unprecedented collaboration and acceleration in life sciences firms’ R&D initiatives. These firms are partnering with TCS to develop the precise transformation technique, innovatively harness next-gen applied sciences akin to AI, IoT and blockchain to speed up and develop their R&D packages, improve enterprise outcomes and obtain purpose-led progress,” stated Vikram Karakoti, International Co-Head, Life Sciences, TCS.

TCS stated it has invested closely in analysis and innovation capabilities within the life sciences area. The corporate added that its genomics labs supply capabilities akin to DNA sequencing, marker validation, and translational analysis.

Final week, TCS had introduced that Avianca, one of the leading airlines in South America, chosen it as a strategic accomplice in its cloud transformation journey.

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