New Delhi: Tech Mahindra’s market capitalisation went past the Rs 1-lakh crore mark helped by a rally in its stock price on Friday.
At the close of trade, the company’s market valuation was at Rs 1,01,671.34 crore on the BSE.
Shares of the company gained 5.64 per cent to close at Rs 1,050.95 on the BSE. During the day, it jumped 6.54 per cent to Rs 1,059.95 — its record high.
With this, the company has become the fifth information technology (IT) firm to enter the Rs 1-lakh crore market capitalisation club.
Tata Consultancy Services (TCS), Infosys, HCL Technologies Ltd and Wipro are the other IT firms to have a market valuation of more than Rs 1 lakh crore.
Tech Mahindra is at the 33rd position in the ranking of top-100 companies by market capitalisation on the BSE.
Reliance Industries Ltd is the country’s most-valued firm with a market valuation of Rs 12,25,445.59 crore followed by TCS (Rs 11,70,875.36 crore).
The market valuation of Infosys was at Rs 5,58,772.73 crore, HCL Technologies Ltd Rs 2,69,860.43 crore and Wipro Rs 2,45,845.27 crore. IT stocks were in the limelight on Friday ahead of TCS’ results.