News

TCS Becomes The First Indian Company That Hits $100 Billion!

On 24th April 2018, Wednesday a history was written by India’s largest software services firm-
Tata Consultancy Services Ltd (TCS). This market capitalization in TCS share price so far has made it the second Indian company to cross Rs6 trillion in market capitalization after a 17% rally in its share prices until now this year.

Source

TCS share price touched a new height that created a record high of Rs 3,254.80 on BSE. They gained as much as 4.89% in share trading that closed at Rs 3,174.60, up 2.3% from the previous price of the closing share price. TCS’s market capitalization is now Rs 6.07 trillion. From the beginning of 2018 the stock that was added nearly Rs1 trillion to its market capitalization. Whereas Reliance Industries Ltd is India’s first company to cross the Rs6 trillion market capital and achieve a benchmark. TCS  ranks at 17th position in the international technology firms.

Market Capitalisation
Ranking-

Apple Inc- $900.41 billion,
Alphabet Inc- $814.89 billion
Microsoft Corp- $708.97 billion
Amazon.com Inc- $656.57 billion
Tencent Holdings Ltd- $573.94 billion.

In terms of market capitalization, Reliance Industries is at a 118th place while TCS ranks 119th all listed companies across the world. The rise in TCS share price was the three new orders won by the company announced at the time of quarterly earning.

The Company Said-
This month that it had won a $690-million,
10-year contract from a unit of British insurer Prudential Plc. It won two more than $2 billion, multi-year outsourcing contracts from television rating measurement firm Nielsen and Transamerica Life Insurance Co. a unit of Dutch insurer Aegon NV, in December and earlier this month, respectively.

Share Price Comparison..!! 

IT stocks have been gaining since the start of the year after brokerage firm Morgan Stanley Research predicted that Indian IT services stocks may be set for a turnaround in 2018. So far this year,

                                                         Stock Turnaround In 2018
Companies Percentage
TCS 17.56%,
Infosys Ltd 14%,
HCL Technologies Ltd , 14.40%
Tech Mahindra Ltd 19.35%,
Mindtree Ltd 23.68%,
Mastek Ltd 30.15%
Cyient Ltd 11%.

Satish Kumar (Research Analyst At the Fundamental Research Desk Of Choice Broking) Said –

“The Announcement Of Three Big Business Deals Is Positively Impacting Investor Sentiment.”
In addition to that, IT is only among the few sectors which offer value in this bull run with stretched valuations of many sectors. Further, IT companies are also likely to remain beneficiaries of the big tax cut in the US. All these factors have increased the interest of investors towards the IT sector and a leader like TCS will attract customers.”

Bravo! Congratulations TCS..!! For becomes The First Indian Company to Hits $100 Billion!