TCS becomes first Indian company to cross $100 bn in market-cap

TCS becomes first Indian firm to cross $100 bn in market cap pips Accenture

TCS becomes first Indian technology firm to hit $100 billion in market capitalisation

Tata Consultancy Services (TCS), which on Monday became the first Indian company to cross $100 billion in market capitalisation, is looking at newer technologies such as Internet of Things (IoT), automation and cloud computing to push its digital revenue past the $5 billion mark this year.

TCS's 11.7 per cent y-o-y fourth quarter revenue growth in dollar terms surprised the markets.

Chandrasekaran also said he would like to thank his shareholders for their continued support. The market cap of the largest company in the Tata group is now 52 per cent higher than all the other IT index companies put together.

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The TCS market valuation has surpassed around the 6-crore mark and overall TCS has performed exceptionally well in the numbers.

On the NSE, the stock jumped 4.56 per cent to Rs 3,557.90.

TCS' m-cap value matches that of other worldwide stock-market players such as Accenture, United Technologies, GlaxoSmithKline PLC, Lockheed Martin, Nike and Volkswagen AG. TCS said last week that its business in Europe and the United Kingdom grew by 19% and nearly 11% respectively in the quarter ended March, with North America growing by almost 5% compared to the previous year. "Over the past 5-odd years, TCS' average forward PE multiple stands at 19.3 times against 16 times for Infosys, implying an average PE premium of over 20 per cent for TCS", said Harit Shah, Senior Analyst - IT, Reliance Securities.

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However, it ended the day up around 0.3%, closing the day with m-cap at $98.34 billion. India's top software services exporter is more confident about BFSI revenues from North America as client discussions show there is "not much stress left in the system", and this could potentially translate into better client spending through the course of the year, CEO Rajesh Gopinathan had said. TCS share is now trading at Rs3503, with an increase of 2.8 per cent. And going ahead, "digital remains the key driver for incremental growth for TCS", it added.

TCS proved to be the flagship company for the Tata Group, accounting for 85 per cent of the group's profit.

"TCS is a unique company". It is also one of the most valued firms followed by Reliance industries.

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As of 10.30 am this morning, TCS, the company which employees half the engineers your dad wants you to be like, overtook the US-listed, Dublin-headquarted Fortune 500 company Accenture, which employees half the MBAs your dad wants you to be like.

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