Business Standard

TCS first IT firm to top $200-bn m-cap


Tata Consultanc­y Services (TCS) topped the $200-billion market capitalisa­tion mark on Wednesday as the stock extended this year’s winning run. Shares of TCS logged a new lifetime high of ~3,980 before settling at ~3,955, up 1.8 per cent over previous day’s close.

Shares of TCS are up 35 per cent this year amid a sharp rally in IT stocks. At the closing price, the Tata group flagship had a market cap of ~14.63 trillion ($199.2 billion). Currently, only Reliance Industries (RIL) has a higher market cap among domestical­ly listed companies at ~15.81 trillion ($215 billion). Earlier this month, RIL had become the first company to cross the $200-billion mcap milestone.

The Indian IT sector has been on an upwards trajectory with pandemic resulting in an accelerati­on of digital transforma­tion. The gains are evident in the growth number of companies.

The same is true for TCS that has seen a huge uptick in its services from clients. For the Q1 FY22, the company reported revenue growth of 18.5 per cent yearon-year at ~45,411 crore. It also reported a total contract value of $8.1 billion, the deal signing was driven by growth across industry and verticals.

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