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The price hike comes a day after the company’s market capitalization reached Rs. 2.5 lakh crore mark. The company became the 17th largest company in the Indian market. It is now ahead of Axis Bank, L&T, UltraTech, Maruti Suzuki, and Nestle.
At 10:15 am, it was trading 7.2 per cent higher at Rs 103.20 while it declined 0.38 per cent on S&P BSE Sensex.
According to analysts at Jefferies brokerage firm, 95% of the company’s value comes from its subsidiaries. On March 30, Nazara Technologies was listed on BSE.
TCS is the second listed company overall market cap ranking, after Reliance Industries, which has a market capitalization of Rs. 14.5 trillion.
Currently, the price stands at Rs. 6.35 apiece. The share touched a 52-week high of Rs 13.80 and a 52-week low of Rs 4.55 on 15 January 2021 and 05 August 2021, respectively.
In Q1FY22, JFL reported a net profit of Rs 69.06 crore. The company revenue from operations stood at Rs 893.19 crores as against Rs 388.41 crores last year.
HCL Tech achieved this milestone after Tata Consultancy Services (TCS), Infosys, and Wipro. HCL is the third-largest Indian IT firm after TCS and Infosys.
The price hike comes at a time when sales loss of the company in June quarter was narrowed down to 69 crores.
Airtel's share prices increased by 5%. In February, Airtel’s share price had reached Rs. 623. Analysts attribute Airtel’s growth to the telecom service provider’s new pre-paid and post-paid subscription plans.
Shree Cements share prices were down by 4% on Tuesday, due to poor operating performance. The company reported an increase of 48.31% in net sales, which stands at Rs 3,449.49 crore in June 2021.