Good news for Indian’s, TCS becomes the first national company in the last decade to reach $100 billion mark in terms of market value. This happened when the share price of TCS achieved the all-time high of Rs 3,470. This increase in share price is the result of latest March quarter earnings in which the company reported a 5.71 percent growth with a net profit of Rs 6,904 crores.
With this, TCS is now among world’s 63 countries having more than $100 billion value including names like Amazon and Facebook. Another interesting fact that we conclude from this is that the market capitalization of TCS is now more than the GDP of 128 countries including Sri Lanka, Ecuador, Slovakia, Kenya, Luxembourg, Costa Rica, and Bulgaria. The m-cap of TCS is equal to the defense budgets of India and Japan combined. Also, this value is greater than the total market capitalization of all the stocks listed on Pakistan Stock Exchange.
N Chandrasekaran, the former CEO of TCS and current chairman of Tata Sons told that this rise is due to the digital push that India has seen over last one year. The value of TCS share has increased 27 percent this year which is way more than the 1.1 percent gain in the S&P BSE Sensex Index.
Reliance was the first Indian country to reach $100 billion in 2007 and after the long time span of 11 years, TCS has achieved this number. TCS holds 62 percent of Tata group’s total market value. Investors are optimistic about the future of TCS and its share price is expected to rise in coming days.
