Tata Consultancy Services Ltd, India's biggest software services exporter, breached the 3,500 rupee ($52.87) per share mark on Monday for the first time, reaching $100 billion in market capitalisation.
TCS' shares were being traded 4 percent above the previous closing mark at Rs 3545 on the Bombay Stock Exchange (BSE) at 10.30 am on April 23, hitting an all-time high. It ranks 64th on a list of companies with market caps of $100 billion or more and, as per Economic Times, has become a part of possibly the most elite corporate club in the world. That left its market value at $99 billion. It reported a revenue growth of 8.2 percent at Rs 32,075 crore for the March quarter, up from Rs 29,642 crore a year earlier.
"I would like to thank our shareholders for their continued support", he said. TCS is now accounted 11% of the total Sensex market-cap of Rs 60.81 trillion market-cap. The stock is now trading flat at Rs 3,395.
The Mumbai based-IT firm has crossed the market capitalisation of NYSE-listed fortune 500 company Accenture ($98.60 bn).
Reuters' data also threw up a few more such observations about TCS' market capitalisation.
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. Bill Gates' Microsoft has an m-cap of $731 billion.
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TCS has transformed itself into a global outsourcing giant and is much better placed over other IT rivals like Infosys, Wipro, HCL Technologies and Tech Mahindra, he said. TCS said last week that its business in Europe and the United Kingdom grew by 19% and nearly 11% respectively in the quarter ended March, with North America growing by almost 5% compared to the previous year.
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.
"TCS is a unique company". And going ahead, "digital remains the key driver for incremental growth for TCS", it added.
Harit Shah, senior analyst, IT, Reliance Securities, said, "With its consistently superior financial performances, it is no surprise that the stock has been rewarded by the street, particularly for its sheer consistency".
TCS has had a stellar run since its listing on August 25, 2004, delivering a healthy 21.3% CAGR over 13.5 years.