Eternal has overtaken Tata Consultancy Services (TCS) in terms of weightage in the Nifty 50, highlighting a notable shift in the index towards consumer internet and growth-oriented companies. Eternal's weight stands at around 2.29%, compared with roughly 2.08% for TCS, according to data as of 30 September 2026.
The shift, however, does not mean Eternal is a larger company than TCS. The difference is largely explained by the free-float market capitalisation methodology used to calculate Nifty 50 weights.
Eternal has a much larger proportion of its shares available for public investment, while a significant portion of TCS is held by its promoter, Tata Sons. As a result, the portion of TCS's market capitalisation considered for the index is substantially lower than its total market value.
Naren Agarwal, CEO of Wealth1, said Eternal's higher Nifty 50 weight is primarily due to free-float. While TCS has a market capitalisation of around ₹7.5 lakh crore, more than twice Eternal's roughly ₹3.1 lakh crore, Tata Sons owns close to 72% of TCS, leaving a much smaller portion available for index calculation.
Eternal, on the other hand, does not have a promoter holding of a similar scale, resulting in a significantly higher investable market capitalisation.