TCS market capitalization reaches $100 billion mark

Rising high above analysts’ expectations, TCS’ market capitalization reached the $100 billion mark. The company’s shares changed hands at an average price of Rs 3,480 a piece, which effectively means that all analysts would have been recommending that investors sell TCS shares.

One major factor behind this massive rally is the recent fancy domestic institutional investors have taken to the IT services sector. A number of other IT stocks have hit all-time highs in recent trading sessions, and valuations have reached unreasonable levels for many of them too.