Current Affairs

TCS becomes India’s first $100 billion IT company

TCS (Tata Consultancy Services) has become the first Indian company to reach the $100 billion market capitalization mark.
  • The maarket value of the company stood at Rs 6.53 lakh crore.
  • TCS shares gained as much as 4.6 per cent to hit a record high of 3,557.90 rupees. 

Key facts

  • The company reported a 4.4 percent rise in March quarter net profit and is guided towards a better show in fiscal 2019.
  • The Tata group flagship contributes around 85 percent of the group's profit.
  • It reported a revenue growth of 8.2 percent at Rs 32,075 crore for the three months to March. 
  • The company had its highest revenue growth in 14 quarters at 11.7 percent. 
  • With this, TCS joined the ranks of the world’s 100 most valued organizations and now ranks 97th. 
  • TCS has also overtaken outsourcing and consultancy giant Accenture which has market cap of $98.20 billion. 
  • TCS holds first position among most valuable international pure play technology services firms. INTL Business Machines Corp. 
  • IBM has market cap of $133.48 billion, but it has both hardware and technology services operations.
  • Currently there are 96 companies which have market cap of over $100 billion. 
  • It also announced a 1:1 bonus of shares and a dividend of Rs 29 a share, taking the total payout to shareholders at Rs 50 for the year. 
  • The first Indian company to cross the $100 billion mark was the telecoms-to-energy conglomerate, Reliance Industries Ltd. Mukesh Ambani led company did so in the year 2007.
TCS becomes India’s first $100 billion IT company TCS becomes India’s first $100 billion IT company Reviewed by Aman Bhatia on April 24, 2018 Rating: 5

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