Tata Consultancy Services regained its leadership position in market capitalisation among IT companies by pushing down Infosys to the second spot.
With Friday's price of Rs 1,148.20 per share, the market capitalisation of TCS works out to Rs 55,128.08 crore (Rs 551.280 billion).
Infosys lags behind TCS by Rs 153 crore (Rs 1.53 billion) with its market cap at Rs 54,972.40 crore (Rs 549.742 billion).
On May 9, Infosys became the largest market cap company among IT firms, dethroning TCS. Infosys leadership position lasted for three trading days between May 9 and May 12.
Infosys share price declined by 3.1 per cent in the last four days, while TCS declined by 2.1 per cent.
In the overall market cap ranking, TCS is now ranked at number 4 and Infosys at number 5. ONGC with a market cap of Rs 125,289 crore (Rs 1,252.89 billion) is at number one, followed by Reliance Industries (Rs 74,754 crore or Rs 747.54 billion) and NTPC (Rs 69,757 crore or Rs 697.57 billion).
The Tata group IT outfit TCS was crowned the market cap leader on August 25 last year, the day it was listed on the bourses, pushing Infosys to the second slot. It held on to the numero uno position for almost nine months.
TCS became the first company in India to be placed in the top five list in market capitalisation when it was listed. TCS continued with its top position, leading Infosys by over Rs 5,000-10,000 (Rs 50-100 billion) crore in market capitalisation till recently.
The gap in market capitalisation between Infosys and TCS was reduced after Infosys announced a modest guidance on April 14, which led to the prices of all IT stocks tumbling on the bourses.
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