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.
