TCS: 2nd Indian company to cross m-cap of Rs 13 lakh crore
TCS company has become the second Indian company to cross the market value of Rs 13 lakh crore on August 17, 2021.
Key Points
- This mark was achieved by the company after seventeen years it sold its stock for the first time in public debut.
- TCS has become the second company after Reliance, in India to do so.
- Shares of TCS ended up at 2.32 percent of Rs 3,552.4 and hit a record high of Rs 3,560.25.
- By the end of trading, market capitalisation (m-cap) of TCS stood at Rs 13.14 lakh crore.
- Oil-to-telecom conglomerate, Reliance Industries, is currently valued at Rs 13.7 lakh crore.
Background
TCS reported a 28.5 per cent year-on-year growth in the consolidated net profit amounting to Rs 9,008 crore for the quarter ended in June. Its consolidated revenue for the quarter increased by 18.5 per cent on year amounting to Rs 45,411 crore.
About Tata Consultancy Services (TCS)
TCS is a multinational information technology (IT) services and consulting company of India. It is headquartered in Mumbai. However, its largest campus is located in Chennai. TCS is the largest IT services company worldwide by market capitalisation, as of February 2021. TCS is a subsidiary of Tata Group. It is operating in 149 locations in 46 countries. TCS was ranked at 64th place in 2015 in the Forbes World’s Most Innovative Companies ranking. It tanked 11th on Fortune India 500 list, as of 2018.
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Month: Current Affairs - August, 2021