Shares of the country's largest information technology company, Tata Consultancy Services (TCS), gained as much as 2.5 per cent to hit an intraday high of Rs 3,110 on Friday, January 8, ahead of its December quarter results. The Mumbai-based IT services exporter reported a net profit of Rs 7,475 crore in the July-September period, marking a rise of 6.66 per cent compared to the previous quarter.
During the quarter, TCS completed Rs 16,000 crore share buyback plan, wherein it bought 5.33 crore equity shares at Rs 3,000 per share.
At 12:10 pm, Tata Consultancy Services was trading at Rs 3,098.65, up Rs 65.95, or 2.17 per cent, on BSE.
At the highest intraday level on Friday, Tata Consultancy Services' market capitalisation — or market value — touched Rs 11.67 lakh crore, making it the country's second most valued company after Reliance Industries.