Published: Tue, April 24, 2018
Money | By Wilma Wheeler

TCS becomes first Indian company to hit $100 bn market capitalization

TCS becomes first Indian company to hit $100 bn market capitalization

The $100 billion market cap puts TCS in an elite club, as globally there are only 63 other companies in this league, including Amazon and Facebook.

In terms of market capitalisation, TCS ranks ahead of Reliance Industries, HDFC Bank, ITC, Hindustan Unilever, HDFC, Maruti Suzuki and Infosys.

After posting staggering fourth-quarter results on Thursday, TCS made history, with its market-cap soaring to ₹6,79,332 crore in intra-day trade on Monday before closing at ₹6,53,767 crore.

As part of its "Business 4.0" strategy, TCS is looking at new age-technologies like automation, cloud and Internet of Things (IoT) driving digital revenues of the company to over United States dollars 5 billion this year.

Shares of TCS also surged almost 5 percent during intra-day trade on the country's equity benchmark index, Bombay Stock Exchange.

Dollars 100 billion market-cap forms an elite club of top corporates of the world.

Shares of the Mumbai-based company rose as much as 4.4 percent to a record high of 3,553 rupees, extending gains for a third straight session after the company posted its biggest-ever profit last week on new deals in the March quarter.

"It's a special moment, a moment we have been waiting for", Economic Times quotes Tata Group Chairman N Chandrasekaran as saying, adding that he always believed that the opportunity in tech space and TCS is very large.

At 10.30 am, the market value of the company stood at Rs 6,79,332.81 crore ( $102.6 billion). "TCS has done exceptionally well in the last 13 quarters and the performance of the quarter that just passed by was unbelievable". Digital share went up close to $5 billion, some 25 per cent of the total revenues. "TCS is aiming to become 100 per cent agile by 2020, all employees are now under training to achieve this goal", added Kumar. However, this is not the first or only claim to fame that the company can boast of.

TCS announced 1:1 bonus shares, ie one bonus shares of Re1 face value each for every share held in the company to its investors.

Why there is a possibility of a double digital growth?

"With its consistently superior financial performances, it is no surprise that the stock has been rewarded by the Street, particularly for its sheer consistency".

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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