India’s information and technology giant, Tata Consultancy Services, has finally entered the promised land of Rs. 200 billion market capitalisation. It is primarily due to this fact that its stock reached an all-time high in intraday trading on Wednesday, 15 September 2021.
TCS’ stock price reached its lifetime high of Rs. 3,980, and it ended the day on Rs. 3,954.80. At the end of Wednesday’s trading, the market capitalisation of TCS stood at $199.1 billion.
In terms of the domestic market, TCS is only proceeded by Reliance Industries Limited in market capitalisation.
This Jump Did Not Happen Overnight
TCS’ stock has been performing well in the recent past, as the company is only expanding business verticals and its revenues. In the backdrop of the Covid-19 pandemic, the information, and technology sector is showing noticeable growth, and TCS has been one of the frontrunners in this case.
In a recent event, the CEO of Tata Consultancy Services has mentioned that they are expecting double-digit growth.
To provide some context –
- TCS has reported revenue of about Rs. 45,000 crore for this quarter, which is a year-on-year growth of up to 18.5%.
- Additionally, the net profit is upped by 28.5% from the previous year with Rs. 9008 crores.
- The attrition rate of Tata Consultancy Services has remained 8.6%, which is the lowest in this industry.
TCS has recently added a new feather to its cap, as it has been announced as the global leader of the IDC MarketScape for research and development and strategic advisory and consulting services. The company confirmed this in its latest exchange notification.
IDC MarketScape runs a vendor assessment model that offers an overview of an information and communication technology supplier’s competence in a specific market.
Talking about this current development, one of the top executives of the company emphasised different joint ventures. For example, companies are now entering a collaboration with TCS to develop AI based technologies that will help such organisations grow.
Tie-up with Tata Digital
Besides its core business, TCS is also working with Tata Digital on multiple initiatives, one of which will be the super app. Also, the company is playing its part in accommodating mergers happening within Tata Group.
It took TCS 50 years to reach its first $100 billion valuations, and the next landmark came in just 3.5 years. This only embodies the fact of how far Tata Consultancy Services has come as a company and its presence in the current IT segment.
Frequently Asked Questions
- What is the current face value of TCS’ shares?
- How many employees did TCS add in the quarter ending in June 2021?
Tata Consultancy Services has added around 20,000 employees in the quarter ending in June 2021.
- How to purchase TCS’s shares online?
You can now purchase TCS’s shares online using Angel One mobile application or website.