Tuesday Saw A Record High Of ₹4,135 For Shares Of Tata Consultancy Services (TCS) Ltd., The Massive Tata Group Technology Services Company, Pushing Its Total Market Capitalization Above ₹15 Lakh Crore.

On Tuesday, The Stock Is Up For The Fifth Straight Day, Gaining About 4% In Value. With 34 Points, It Is Also The Main Driver Of The Nifty’s Advances.

With This Recent Surge, Shares Of TCS Are Also Trading Close To Their Most Recent Share Buyback Price Of ₹4,150. The Stock Had Last Hit A Record High Of ₹4,123 In 2021.

TCS Shares Have Gained Four Months In A Row, Beginning In November Of Last Year, And Are Up 8% So Far In February.

Second Only To Reliance Industries, Whose Market Capitalization Is Almost ₹20 Lakh Crore, In Terms Of Market Capitalization, TCS Is The Second Most Valuable Company In India.

TCS’ Contribution To The Overall Market Capitalisation Of The Tata Group Fell From Nearly Three-Fourths In May 2020 To Less Than Half, For The First Time In The Last 10 Years In December 2023.

The Underperformance Of The Stock Was A Contributing Factor, But The Outperformance Of Domestic Tata Group Stocks Such As Titan, Tata Motors, Trent, Tata Power, Indian Hotels, And Tata Elxsi Was A Bigger Cause.

“Over The Past Few Months, TCS Has Emerged As One Of The Leading Large-Cap IT Brands. On The Weekly Charts, It Recently Saw A Consolidation Breakout Around The ₹3,500 Levels, Which Sent It In The Direction Of The Resistance Near The ₹4,050 Life High Levels. It Has Easily Overcome This Resistance, And As It Closes Over ₹4,050 Levels, It Is Anticipated To Advance Towards ₹4,200 Levels. The RSI Is Presently Trading At About70, And If It Continues To Rise, It May Push Strongly Into 80 Levels, Which Would Boost Stock Prices, According To Incred Equities’ Gaurav Bissa.

Ten Analysts Out Of The 44 That Follow TCS Have A “Sell” Rating On The Stock, While 23 Have A “Buy” Recommendation.

Source : By CNBCTV18 via Dailyhunt