Bharti Airtel unseats TCS from top-five club
Bharti Airtel, which is now at a record high, has emerged as the fifth largest company in terms of market-cap.It has displaced TCS from the fifth position.
The current market-cap of Bharti is Rs 1,09,571.46 crore compared to TCS’ Rs 1,09,571.46 crore. The top four firms in terms of market-cap are ONGC, Reliance Industries, Infosys and NTPC, in that order.
Bharti had recently displaced TCS to become the fifth largest company in market-cap, but a 3% surge in the TCS stock on Tuesday (14 November) had TCS regain that slot from the cellular services major.
Bharti scrip today hit a record high of Rs 581.20, while living up to its reputation of setting new records almost every day. A block deal of 12.3 lakh shares was executed in the stock in the institutional segment of BSE today at Rs 615, further boosting the scrip. The stock at current Rs 580 is up 26.3% in a short while, from Rs 459.10 on 5 October. The stock has been on a near secular uptrend since late-July 2006. Continued strong growth in new subscriptions every month, and bumper Q2 results have also contributed to this remarkable surge.
On the other hand, TCS has moved within a range. The stock has fluctuated between Rs 1,062 and Rs 1,100 over the past few days. The scrip appears to be consolidating after a solid surge early last month, when strong Q2 results by Infosys sent IT stocks surging.
The current market-cap of Bharti is Rs 1,09,571.46 crore compared to TCS’ Rs 1,09,571.46 crore. The top four firms in terms of market-cap are ONGC, Reliance Industries, Infosys and NTPC, in that order.
Bharti had recently displaced TCS to become the fifth largest company in market-cap, but a 3% surge in the TCS stock on Tuesday (14 November) had TCS regain that slot from the cellular services major.
Bharti scrip today hit a record high of Rs 581.20, while living up to its reputation of setting new records almost every day. A block deal of 12.3 lakh shares was executed in the stock in the institutional segment of BSE today at Rs 615, further boosting the scrip. The stock at current Rs 580 is up 26.3% in a short while, from Rs 459.10 on 5 October. The stock has been on a near secular uptrend since late-July 2006. Continued strong growth in new subscriptions every month, and bumper Q2 results have also contributed to this remarkable surge.
On the other hand, TCS has moved within a range. The stock has fluctuated between Rs 1,062 and Rs 1,100 over the past few days. The scrip appears to be consolidating after a solid surge early last month, when strong Q2 results by Infosys sent IT stocks surging.
posted by SY at 5:00 PM
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