BENGALURU: Shares of Tata Consultancy Services(TCS) traded at an all-time high on NSE at Rs 2,932 per share, a 0.78 per cent increase from its previous close of Rs 2909.3. Shares of TCS rallied 1.3 per cent at Rs 2,949 a 52-week high during the intra-day trade on Monday. Total market capitalization of TCS on NSE was Rs 11.03 lakh crore.
The shares of the IT companies are on a record breaking spree after Infosys and Wipro announced large deal wins. TCS, also the largest IT services company, had earlier announced a Rs 16,000 crore buyback plan for 5,33,33,333 equity shares of the company at Rs 3,000 per share, which will close on January 1, 2021.
TCS, CEO, Rajesh Gopinathan during the previous earnings said that the company has a healthy mix of small and large deal pipeline which stood at $8.6 billion for the quarter. The stocks of IT peers like Wipro, Infosys were also rallying on S&P, BSE Index and Nifty NSE. Infosys stock was trading at Rs 1240, a 0.3 per cent high and Wipro shares was recorded at Rs 382 , a 0.17 per cent increase from the previous close. Analysts have upgraded their earnings guidance for the top four IT service providers.