TCS becomes first Indian company to achieve United States dollars 100 billion Market Capitalisation
24 April, 2018, 03:29 | Author: Regina Lloyd
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.
TCS' creating history as the first Indian IT major to hit the coveted United States dollars 100 billion market cap is a result of consistent value creation and is poised to leverage the global digital opportunity, Tata Sons Chairman N Chandrasekaran said today. Bill Gates' Microsoft has an m-cap of $731 billion.
During market hours, the m-cap of the company touched around Rs 675,934.95 crore or some $101 billion ($1=Rs 66.395) on the BSE (around 11 a.m.). Apple is spotted in the top as the most valued firm across the globe with a market cap of $840 billion. In fact, its valuation at Rs 6.54 lakh crore was more than the combined market value of Rs 6.12 lakh crore of Infosys, Wipro, HCL Technologies and Tech Mahindra. Following the uptick in the counter, the market capitalisation of the company swelled to Rs 6,80,912.10 crore.
The company's market cap went slightly over $99 billion when markets closed on Friday. Shares of TCS had surged by almost 7 per cent on Friday, making investors richer by over Rs 40,000 crore in a day. For the full fiscal, its revenue rose 4.3 per cent to Rs 1.23 lakh crore.
Market Capitalisation is defined as the value of a company that is traded on the stock market.
"TCS continues to execute solidly for a company of its size".
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 Dollars 5 billion this year.
TCS claims that Digital, the fuzzy umbrella term which each company uses to classify revenue generated from areas generally classified as social, mobile, analytics, cloud computing and Internet of Things, grew 43% in constant currency terms to $4.5 billion or about 24% of company's overall revenue.
Speaking to PTI, TCS CEO and Managing Director Rajesh Gopinathan said Business 4.0 is thought leadership framework to help customers leverage digital technologies to address their growth and transformation agendas.
So far this year, shares of the company has risen by 26.5 per cent. On Thursday, the Bengaluru-headquartered firm reported a 4.48 per cent year-on-year (YoY) rise in consolidated net profit at Rs 6,904 crore for the March quarter.
TCS stock has had a stellar run since it got listed on August 25, 2004, delivering a healthy 21.3 per cent CAGR over the over 13.5 year period.
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