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TCS Shares at New High

The above-expected quarterly results drove TCS shares to their highest in a year

After unveiling a strong quarterly performance, TCS and its investors, are reaping another reward on the stock markets as the infotech biggie notched up a 15 per cent gain on Monday, which is the highest in a year.

TCS is India's top software services company and it had posted a 22 per cent quarterly rise in profit (period ending June), which it had unveiled on Friday – the markets were not able to factor that in as the announcement was made late in the day.

The markets on Monday refused to water down the gains despite the company having warned that the business environment was weak and that there was a downward pressure on the fees that it charged due to the global crisis.

At 3.20 p.m., the stock, on the Bombay Stock Exchange, was ruling at Rs 500.05 after having opened at Rs 449.70. The highest point reached was Rs 514.20 while the day's low was Rs 449.70. Its 52 week High/Low are Rs 437.25/Rs 224.00.

TCS' market capitalization too vroomed to cruise over the Rs 1 lakh crore figure. This makes it bigger than ICICI Bank's.

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Tata Consultancy Services