TCS Crosses Rs 15 Lakh Crore Market Cap For The First Time As Shares Jump To All Time High

A day after Tata Consultancy Services bagged a multi year deal from global assistance and travel insurance company Europ Assistance, the largest IT sector company of India has given not one but in fact two reasons of joy to its investors.

TCS managed to hit double milestones in the stock market on Tuesday when its share price hit all time high, which resulted in its market cap breaching the Rs 15 lakh crore mark for the first ever time.

TCS Market Cap Crosses Rs 15 Lakh Crore For The First Time

tcs share price and market cap/tcs-fb

On a day that saw its shares rally nearly 4%, TCS witnessed its market capitalization hit the Rs 15 lakh crore mark for the first time ever. However, it ended the trading session a tad lower at Rs 14.95 lakh crore. TCS share price too, had hit an all time high of Rs 4149.75 (on BSE), and then ended the day at Rs 4133.45.

Big Deal That Helped TCS Give Double Joy To Investors

The jump in TCS stock came a day after it won a multi-year deal from Europ Assistance, a global assistance and travel insurance company, to help reimagine its global IT operating model. TCS will play the role of strategic partner in the deal, wherein it will step up its delivery centers in Europe and across geographies to provide its partner Europ Assistance end-to-end enterprise IT application services.

tcs deal/mint

As part of the collaboration, TCS will also improve operational resilience and business agility by utilizing its in-house developed product, ignio AIOps, from its Digitate suite of products. Ad per ET report, by giving Europ Assistance useful insights into its technology stack, the solution will increase availability and productivity. Through this partnership, Europ Assistance will be able to support its growing ecosystem of partnerships, scale its business capabilities, and accelerate time to market.

The collaboration will also put a strong emphasis on co-innovation, with TCS and Europ Assistance collaborating on innovative use cases that make use of generative AI and other cutting-edge technologies.

Also Read: TCS Confirms Plan To Build Its Own ChatGPT Like AI Tool

TCS Only Behind Reliance On India's 10 Biggest Stocks List

1. Reliance Industries-Rs 19.4 lakh crore

2. Tata Consultancy Services-Rs 14.5 lakh crore

3.HDFC Bank-Rs 10.9 lakh crore

4.ICICI Bank-Rs 7.18 lakh crore

5.Infosys-Rs 7 lakh crore

6.LIC-Rs 6.3 lakh crore

7.Bharti Airtel Rs 6.2 lakh crore

8. State Bank of India-Rs 5.7 lakh crore

9. HUL-Rs 5.6 lakh crore

10.ITC -Rs 5.4 lakh crore

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