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TCS poised to become first 100 bn listed Indian firm

4/21/2018

Agencies, New Delhi IT major Tata Consultancy Services (TCS) is poised to become the first listed company in Indian history to hit the 100-billion-dollar valuation marks. With share prices of IT major TCS registering a record around seven percent growth on Friday, adding Rs 413 billion to its market valuation, the company was only Rs 7,917.08 crore short of the target. The stock jumped 6.76 per cent to settle at Rs 3,406.40 on BSE. During the day, it soared 7.22 per cent to its 52-week high of Rs 3,421.25. On NSE, TCS shares rose sharply by 6.62 per cent to close at Rs 3,402.45. The stock was the biggest gainer on both Sensex and Nifty. With these gains , the company’s market cap moved up by Rs 41,300.92 crore to Rs 6,52,082.92 crore ($98.8 billion); just 1.2 billion short of the magic figure. TCS on Thursday reported a 4.4 percent rise in March quarter net profit at Rs 6,904 crore. The Q4 profit of the company was 5.7 per cent more compared to Rs 6,531 crore in Q3. “Strong demand in digital across all industry verticals and large transformational deal wins has made this one of best fourth quarters in recent years. The strong exit allows us to start the new fiscal on a confident note,” TCS CEO and MD Rajesh Gopinathan said. TCS is leading the chart as the most valued firm followed by Reliance Industries Ltd (Rs 5, 87,929.90 crore), HDFC Bank (Rs 5, 08,884.23 crore), ITC (Rs 3, 36,777.52 crore) and HUL (Rs 3, 17,211.69 crore) in the top-five list.

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