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  1. TCS at $100 billion: A look at Tata Group behemoth’s rise to become India’s first IT centibillionaire

TCS at $100 billion: A look at Tata Group behemoth’s rise to become India’s first IT centibillionaire

TCS at $100 billion: IT bellwether TCS scripted history on Monday, by becoming the first $100 billion company, even as TCS shares soared to an all-time high levels buoyed by strong Q4 results.

By: | Published: April 23, 2018 5:14 PM
“It’s a special moment, a moment we have been waiting for. TCS will continue to do very well in the coming months and quarters,” TCS Chairman N Chandrasekaran said.

TCS at $100 billion: IT bellwether TCS scripted history on Monday, by becoming the first $100 billion company, even as TCS shares soared to an all-time high levels buoyed by strong Q4 results. The IT behemoth commands a whopping market capitalisation of Rs Rs 6.53 lakh crore on Monday, making it the most valued Indian company. Mukesh Ambani-led Reliance Industries is at the second spot and commands a market capitalisation of Rs 5.92 lakh crore at today’s closing prices. How did TCS rise to become India’s most valued company? Interestingly, RIL was the first company to achieve the feat way back in 2007, a PTI report said.

A Tata Enterprise, TCS contributes to over 85% of the group’s revenues. The IT behemoth employs over 387,200 global professionals including from 130 nationalities. TCS has seen remarkable rise over the years, and has added $80 billion in the last 10-years alone. At the end of 2008, TCS share price closed at Rs 206. Today, the shares closed at Rs 3,395. The share price alone has risen by more than 16 times. Add dividend to that that it has been a bonanza for shareowners of the company. Notably, excluding the latest dividend, Tata Consultancy Services has given away as much as Rs 325.5 (as per the data available with the stock exchanges) in the form of dividends per equity share, making it the largest by an IT company.

A look at past data reveals that TCS has added $20 billion in market capitalisation from 2006 to 2010. The next $20 billion came in less than 4 years, as the market capitalisation swelled to $60 billion in 2013. The next one year period was one of the golden years for the scrip, as the market capitalisation of the company swelled to $80 billion in 2014. It took the company 4 more years to add the $20 billion to become first IT company in India to achieve the feat, according to a report by ET Now.

The latest surge in market prices comes after a stellar Q4 performance. Deal wins in quarter ended March helped the Mumbai-headquartered company post its biggest-ever quarterly net profit at Rs 6,904 crore, a rise of 4.5%.

TCS shares rose today by 4 per cent to Rs. 3,557, pushing the market capitalisation of India’s biggest outsourcer to over Rs. 6.8 lakh crore intra-day. “It’s a special moment, a moment we have been waiting for. TCS will continue to do very well in the coming months and quarters,” TCS Chairman N Chandrasekaran said in a message to shareholders.

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