On Monday this software giant created history by entering into 100 billion market capitalization. This Indian company is none other than Tata consultancy private limited.
TCS company is a software services firm, also it is the second Indian company to attain this deed after Reliance Industries Ltd, surpassed multinational firm Accenture Plc, whose market cap mounted at $98.20 billion. The TCS Company also emerges in the list of 100 most valued organizations across the world. It now ranked 97th in the 100 most valued organization of the world.
Reliance Industries is the first Indian Industry which entered the $100-billion club in 2007. Now it has a market capitalization of around $89.36 billion.
TCS company share touched an all-time high
On Monday, it is a historic day for TCS as TCS shares prices raised as much as 4 percent. This is the all-time high that the company had recorded with Rs. 3,557 per share. This had pushed India’s biggest outsourcer market capitalization to Rs. 6.8 lakh crore.
On Friday, shares price of TCS company had rushed to over 7 percent which makes stakeholders richer as they can make Rs. 40,000 crores in a day.
The company had reached the $100 billion obstacles when shares touched Rs 3,447 per unit. From the past three trading seasons, TCS stock share price has been on a roll for the past three trading sessions, but in last week when the quarterly earning announced, it finds better than expected.
According to the Prabhudas Lilladher “TCS company delivered a strong set of performance in Q4 with a beat on dollar revenues and profit,“
He also said that “digital is considered as the key driver for gradual growth for TCS”.
TCS company beat the analyst forecast
The successes of January-March deal helped the Mumbai-headquartered TCS company to post its biggest-ever net profit in the quarter. On Thursday TCS had publicized its earnings after market hours. TCS had recorded a net profit of Rs. 6,904 crore. Though the analyst average estimate is around Rs. 6,798 crores. But the high profit of Rs. 6,904 crore which had beat the analyst estimation.
The salt-to-software conglomerate Tata group had stated there is a rise of 8.2 percent in the overall income from last year. It has recorded Rs. 32,075 crore as income from operations.
CEO & MD of TCS company said-
The CEO and MD of TCS, Rajesh Gopinathan, said that”We are certainly pleased and grateful to our employees and customers who have been contributory in attaining this landmark. He said that the most exciting part for the company’s whole-business is 4.0 journey which acts as a great opportunity to be a digital partner of choice to our customers in their growth and transformation journey.”
Business 4.0 strategy of TCS is a technology which is majorly determined by conversion of businesses after the arrival of the fourth industrial revolt.
The Tata Sons Chairman N Chandrasekaran also expressed his happiness and said that”TCS has been able to generate value reliably by making the right investments not only in terms of technology but also in terms of creating capabilities, building leadership and talent, planting new markets and developing scalable world-class solutions.”