NEW DELHI, Dec 23 Asia Pulse – Software giant Infosys (BSE:500179) on Thursday once again toppled Tata Consultancy Services (NSI:TCS) (TCS) from the top spot among Indian IT companies in terms of market capitalisation.
Though stock markets closed on a firm note after witnessing choppy trade, buying was seen in heavyweights stocks from the IT sectors.
Taking advantage of favourable conditions prevailing in the bourses, Infosys moved ahead of TCS with a market capitalisation of Rs 811.72 billion (US$17.9 billion) compared to Tata group entity’s Rs 808.32 billion.
Infosys now occupies the fourth position in terms of overall market capitalisation after Oil and Natural Gas Company (NSI:ONGC), Reliance Industries (NSI:RELIANC) and National Thermal Power Corporation (NSI:NTPC) in that order.Share price of Infosys gained 0.34 per cent to end at Rs 2,982.75 while TCS bucked the trend in the market losing 0.15 per cent to end the day at Rs 1,750.85.
Barring TCS and Patni Computer (BSE:532517), all the top IT companies ended in positive territory at the close of trading hours on the BSE and NSE.
TCS lost ground on profit taking after recent sharp surge in the stock which had pushed up on December 14