TCS to breach $100 bn market capitalisation |
Tata Consultancy Services (TCS), the country`s largest IT outsourcing company created history by becoming the first Indian company to reach the $100 billion market capitalisation (m-cap) mark. The shares of the IT behemoth were trading 4 per cent above previous closing mark at Rs 3,545 on the BSE at 10.30 am, thus hitting an all-time high. By definition, market capitalisation is the value of a company that is traded on the stock market, calculated by multiplying the total number of shares by the present share price. At 10.30 am, the market value of the company stood at Rs 6,79,332.81 crore ($102.6 billion). Last week, when the markets closed on Friday, the company was at the verge of the milestone as the m-cap stood at slightly above $99 billion. TCS stock had surged more than 6 per cent on Friday. The Tata group flagship, which contributes around 85 per cent of the group`s profit, reported a revenue growth of 8.2 per cent at Rs 32,075 crore for the three months to March. In dollar terms, the company had its highest revenue growth in 14 quarters at 11.7 per cent.Tata to India is invaluable National asset, just like GE for US, Siemens for Germany & Mitsubishi to Japan.
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