Tata Consultancy Services’ shares hit record high on Wednesday, the scrip moving up 2 per cent on the bourses.
On the NSE, the stock touched the day’s high of Rs 1,421, while on the BSE, it hit Rs 1,420. The stock ended the day at Rs 1,412.40, up 1.5 per cent. The company, gave bonus shares in 2006 and 2009. Today’s peak factors in these bonus shares.
“The company’s prospects at this point are better than other IT companies. This sector would be a good bet if the rupee weakness continues,” said Chokkalingam G, Executive Director and CIO, Centrum Wealth Management.
Analysts believe the positive momentum will continue for some more time. With a market cap of Rs 2.76 lakh crore, TCS is now the most valued Sensex stock, followed by Reliance Industries (Rs 2.58 lakh crore) and ONGC (Rs 2.39 lakh crore).