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TCS becomes first Indian company to achieve USD 100 billion Market Capitalisation

Apr 24, 2018 09:34 IST
TCS becomes first Indian company to achieve USD 100 billion Market Capitalisation

India's largest IT outsourcing company Tata Consultancy Services (TCS) on April 23, 2018 created history by becoming the first Indian company to reach the USD 100 billion Market Capitalisation (m-cap) mark.

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. The market value of the company at that time stood at Rs 6,79,332.81 crore ( USD 102.6 billion).

Earlier on April 20, 2018 the company was on the verge of achieving this milestone as its m-cap value stood above USD 99 billion.

TCS' m-cap value matches that of other international stock-market players such as Accenture, United Technologies, GlaxoSmithKline PLC, Lockheed Martin, Nike and Volkswagen AG.

What is Market Capitalisation?

Market Capitalisation is defined as the value of a company that is traded on the stock market. This value is calculated by multiplying the total number of company’s shares by the present share price.

What led to this record-breaking m-cap of TCS?

The increase in the TCS capital came after it reported a net profit of Rs 6925 crore, a 4.5 percent increase in its net profit in the fourth quarter (January-March).

Moreover, the company announced a 1:1 bonus for its shareholders at the end of fiscal 2017-18. This was the third time that the company offered bonus shares since its listing in 2004. TCS had earlier allotted 1:1 bonus shares in 2006 and 2009.

Top 10 Companies in India as per Market Capitalisation

Company Name

Market Capitalisation as on April 23, 2018 (crores)

TCS

653,767.50

Reliance

592,427.82

HDFC Bank

502,253.77

ITC

335,801.17

HUL

314,938.94

HDFC

306,853.61

Maruti Suzuki

273,723.80

Infosys

258,458.68

ONGC

232,153.22

Kotak Mahindra

222,280.05

About Tata Consultancy Services

• Tata Consultancy Services is an International multinational information technology service, consulting and business solutions company.

• Headquartered in Mumbai, Maharashtra, TCS is a subsidiary of the Tata Group.

• It is one of the largest Indian companies by market capitalization.

• In 2015, it was ranked 64th overall in the Forbes World's Most Innovative Companies ranking and in December 2015, TCS was ranked 10th on the Fortune India 500 list.

 

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