TCS Turns First Indian Tech Firm to Cross $200 Bn m-cap
TCS becomes first Indian tech major to cross 200 billion market cap. It is one of the India's largest software exporter crossed $200 billion in market capitalisation on Wednesday, as investors backed technology service providers who are rising their business aiding the digital transformation of global businesses. Reliance Industries is the most valuable Indian firm with a market cap of over $205 billion.
TCS completes 50 years, listed on the stock exchanges in 2004. It took nearly 13.5 years to get to $100 billion market cap, while the next $ 100 billion took 3.5 years, or a third of the time, a company executive states. TCS, which is positioning itself as a company that provides end-to-end consulting to implementations to global clients and gain more of their wallet share, is bullish on faster growth as customers across sectors invest in technology to transform their business. TCS's global rivals Accenture has a market cap of $216 billion and IBM at $122 billion, while Infosys is valued by investors at $99 billion.
Rajesh Gopinathan, CEO, TCS says, “At various points in time, the market has doubted us - whether we will adapt to different shifts in technologies. Every time that myth has been broken, you have seen this movement on the markets. When automation came, there was a lot of coverage that automation is going to be the death knell of the industry. When digital came, (commentators said) digital is going to wipe us out. So, each time you're able to demonstrate that, you know we are resilient and not just resilient, we can ride the wave rather than get disrupted.”