perspective : out of 25 Tata companies listed only 4 companies viz TCS,TITAN,TATA exlsi and Tata motors were true wealth creators for Tata in past decade ( 10 years)
TCS has more to do with scarcity premium meaning - Only 4% of Free float is available , rest all with Promoters n FIIS. Dmart story is similar that is reason, dmart stock has gone up.
If people remember MMTC at one point in time became largest mcap stock in 2005-2006. Post split/bonus etc stock collapsed n lost 90% mcap. Well nothing of that sort will happen in TCS but point is , there are many underlying factors for stock price movements apart from fundamentals, profits, technicals etc..