MUMBAI (NewsRise) -- Tata Consultancy Services became the first Indian information technology company to vault past the $100 billion market value, as investor confidence in the country's largest software exporter surged after better-than-expected quarterly earnings.
Shares of TCS touched a record high of 3,557 rupees ($54) before paring the gains to close up 0.3% in Mumbai trading on Monday. The benchmark S&P BSE Sensex gained 0.1%. The last time an Indian company achieved this benchmark was in 2008, when billionaire Mukesh Ambani-backed flagship Reliance Industries crossed $100 billion in value. Reliance Industries is now worth $89 billion.
