TCS‘s share price continued its strong run on Thursday going up close to 3% to hit a new all-time high of ₹4,300.

What Happened: TCS shares have been on a roll at the bourses ever since the company’s June quarter results beat street expectations. With the surge today, the market capitalisation of India’s second-biggest listed company surged to over ₹15.50 lakh crore.

This makes the IT services giant valued higher than global giants such as Alibaba, American Express, Intuit and Walt Disney. Alibaba is valued at around $185.9 billion (around ₹15.35 lakh crore), while Intuit has a market cap of around $184 billion (around ₹15.27 lakh crore) and Walt Disney is worth around $177 billion (around ₹14.6 lakh crore).

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In the June quarter, the Tata Group company reported a net profit of ₹12,040 crore, marking an increase of around 8.7% from the ₹11,074 crore profit it posted in the same quarter last year. The company’s revenue for the quarter stood at ₹62,613 crore. Both revenue and net profit beat analyst expectations, which were around ₹62,150 crore for revenue and ₹11,975 crore for profit.

Since the earnings, the stock has been on a strong upward move, going up close to 9% in the last five sessions. The momentum has also been supported by upbeat earnings posted by fellow IT giants such as HCLTech and LTIMindtree.

Price Action: TCS’s share price was up 2.81% to trade at ₹4,295.85 on Thursday afternoon.

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