Tata Consultancy Services (TCS) became the first Indian information technology (IT) company and overall the second listed company to cross Rs 12 trillion market-capitalisation (market-cap), on Monday, after reporting a healthy set of numbers for the October-December 2020 quarter (Q3FY21). Shares of TCS hit a fresh record high of Rs 3,224; up 3 per cent on the BSE in early morning trade after brokerages maintained ‘buy’ rating on the stock. The company’s Q3FY21 numbers were above analysts' estimates on all fronts. The company said it could return to a double-digit growth trajectory next year. On the National Stock Exchange (NSE), the stock hit fresh all-time high of Rs 3,230, up 3.5 per cent. At 09:19 a.m, TCS' market-cap stood at Rs 11.90 trillion, after the stock erased partially its early morning gains on the BSE and NSE. The stock was trading 1.7 per cent higher at Rs 3,172, against 0.67 per cent rise in the S&P BSE Sensex, the exchange data shows. In the past one month, TCS has outperformed the market by surging 15 per cent, as compared to 8 per cent rise in the S&P BSE Sensex. TCS' quarter on quarter (QoQ) growth in revenues was led by healthy demand in core transformation services and conversion from earlier deals. US dollar revenues grew 5.1 per cent QoQ to $5,702 million. On a constant currency basis, the revenue growth was 4.1 per cent QoQ and 0.4 per cent year-on-year (YoY). EBIT (earnings before interest and tax) margins expanded 42 basis points (bps) QoQ to 26.6 per cent. TCS has declared an interim dividend of Rs 6 per share. Analysts at ICICI Securities said TCS has multiple levers to drive margins like utilisation, productivity improvement, savings due to Secured Borderless Workspace (SBWS), automation and revenue growth.