Tata Consultancy Services Ltd hits $100 billion in market cap

Tata Consultancy Services Ltd hits $100 billion in market cap

Tata Consultancy Services Ltd hits $100 billion in market cap

India's leading software exporter also pipped its rival - US-listed Accenture, which commanded a market value of $98 billion.

While it is the second Indian company to hit $100 billion m-cap after Reliance Industries Ltd (RIL), which achieved the milestone way back in 2007, TCS' m-cap in domestic currency terms is the highest ever by an Indian company.

Earlier on April 20, 2018 the company was on the verge of achieving this milestone as its m-cap value stood above Dollars 99 billion. In dollar terms, the company reported its highest revenue growth in 14 quarters at 11.7 per cent.

"I would like to thank our shareholders for their continued support", he said. 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.

The IT major accounts for almost 11 per cent of the total market cap of Sensex of Rs 6,081,286.82 crore.

Revenue for FY 2018 grew 4.4 per cent to Rs 1,23,104 crore from Rs 117.966 crore in FY 2017. While the global management and strategy consultancy reported a market cap of $98.6 billion, TCS' last reported m-cap overshot the $102 billion mark.

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Interestingly, TCS' market-cap is about 25 per cent more than the capital invested in the Pakistan Stock Exchange. The last $25 billion+ gap to get to $100 billion took another four years to fill.

The company's market cap went slightly over $99 billion when markets closed on Friday. So far this year, the shares of the company have risen 26.5 per cent. Our caution stems from: "1) large segments US/BFSI remaining weak, growing at low- to mid-single digits y-y, with clarity on BFSI still a quarter away amid risks from insourcing at large US Banks", Ashwin Mehta and Rishit Parikh of Nomura said in a recent report. The recent increase in TCS shares is on the back of good earnings. ".what is exciting for us is the whole business 4.0 journey and the great opportunity to be a digital partner of choice to our customers in their growth and transformation journey", he added.

The Tata Group company is now the only Indian entity in top 100 global firms.

"TCS is a unique company".

Why there is a possibility of a double digital growth? "We expect the IT major's strong processes, execution engine and operational efficiency to drive its performance going forward as well, given that these factors are structural and give it a competitive advantage versus peers", said Shah.

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