It replaced Indian Oil from the third spot. ONGC still tops the rankings, with a market capitalisation of Rs 1,00,029 crore (Rs 1000.29 billion) and private sector major Reliance Industries stands second at Rs 63,933 crore (Rs 639.33 billion).
TCS' market capitalisation works out to Rs 47,232 crore (Rs 472.32 billion) at a price of Rs 987.50 per share. It has a capital base of Rs 47.83 crore (Rs 478.3 million), comprising 47.83 crore (478.3 million) shares with a face value of Re 1 each, after the initial public offer.
At the closing price of Rs 987.50, TCS is trading at a premium of 16.17 per cent over the issue price of Rs 850 per share.
TCS is thus trading at a price-to-earning (P/E) multiple of 29.62 times the earning per share of Rs 33.34 on an expanded equity capital of 47.83 crore shares.
TCS shares are slightly dearer than the average IT sector P/E of 27.50, but cheaper than Infosys Technologies, which trades at a P/E of 30.50 and Wipro at a P/E of 38.61.
Meanwhile, the TCS listing takes the Tata group to the top of the group-wise market capitalisation sweepstakes with the 26 listed Tata group firms commanding a combined market capitalisation of Rs 1,00,000 crore (Rs 1,000 billion). The Reliance group is relegated to the second position with a market capitalisation of Rs 82,588 crore (Rs 825.88 billion).
Interestingly, TCS's market value on the day of listing is almost equal to the combined market value of all other listed companies of the Tata group.
The TCS scrip also gave the Tata group a firm perch in the top 10 list. Earlier, none of the Tata group companies were in the top 10 list.
In another upheaval, TCS also topped the IT sector market capitalisation list. Till Tuesday, the honour was with Infosys Technologies which has now slipped to the second position with a market capitalisation of Rs 40,926 crore (Rs 409.26 billion) and Wipro at the third position at Rs 39,500 crore (Rs 395 billion).
Satyam Computer ranks fourth at Rs 10,727 crore (Rs 107.27 billion) and HCL Technologies ranked fifth at Rs 9,413 crore (Rs 94.13 billion). Subscribers to the TCS issue were 16.17 per cent richer at the end of the day, with their net wealth up Rs 877 crore (Rs 8.77 billion).
FIIs have gained Rs 333 crore (Rs 3.33 billion)
Retail investors, having been allotted 1.51 crore (15.1 million) shares, are sitting on profits of Rs 207 crore (Rs 2.07 billion). Non-institutional investors will rake in Rs 128 crore (Rs 1.28 billion) on 0.93 crore shares, followed by MF with Rs 100 crore (Rs 1 billion) and employees of TCS and Tata Sons at Rs 68 crore (Rs 680 million).
While insurance companies will earn a profit of Rs 22 crore (Rs 220 million), financial institutions and banks are sitting on gains of Rs 16 crore (Rs 160 million).
The other Tata group companies which did not take part in the offer for sale of TCS shares have gained Rs 202 crore (Rs 2.02 billion).
Tata Chemicals, which holds 0.12 crore shares, is sitting on paper profits of Rs 114 crore (Rs 1.14 billion) on day one. The value of TCS shares held by Indian Hotels increased by Rs 30 crore (Rs 300 million).
Tata Industries will gain Rs 25 crore (Rs 250 million), followed by Tata Tea at Rs 20 crore (Rs 200 million), Cameo Investment & Finance at Rs 8 crore (Rs 80 million), Tata Investment Corporation at Rs 4 crore (Rs 40 million) and Primal Investment & Finance at Rs 1.18 crore (Rs 11.8 million).
Besides, the two Tata trusts, namely Jamshetji Tata Trust and Navajbai Ratan Trust, are richer by Rs 1,500 crore (Rs 15 billion).
Both Shapoor Pallonji Mistry and Cyrus Pallonji Mistry are richer by Rs 179 crore (Rs 1.79 billion) each on day one.
Ratan Tata, chairman, Tata group, himself is worth Rs 37 crore (Rs 370 million) more and Shapoor Pallonji Mistry Rs 72 crore (Rs 720 million).
