23 Jul, 2014
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Tata Consultancy Services (TCS) created history on 23 July 2014 by becoming the first Indian corporate company to cross the Rs. 5,00,000 crore market capitalization mark. This happened after company’s shares hit their all-time high of Rs. 2,580. Company’s share were zooming after announcement of record profits during the first quarter of 2014-15 and the subsequent huge dividend payout announced.
The significance of TCS’ Market Cap
– TCS’ nearest rival in terms of market capitalization is state-run ONGC (Rs 3.5 lakh crore).
– Reliance Industries, India’s biggest company by sales, ranks third by market cap (Rs 3.3 lakh crore) currently (as on 23 July 2014).
– Among IT companies, TCS’ market cap is more than the combined market cap of its nearest three rivals – Infosys (Rs 1.90 lakh crore), Wipro (Rs 1.39 lakh crore) and HCL Tech (Rs 1.07 lakh crore).
– In dollar terms, TCS’ market cap has surged to $83 billion (at 60 rupee per dollar), which is comparable to the BMW Group and drugmaker AstraZeneca, but far less than its global competitor IBM, which is valued at nearly $200 billion.
More about TCS
– Tata Consultancy Services (TCS) is a division of Tata group’s holding company Tata Sons. It was founded in 1968 as a facilitator and supplier of punched card services to sister company TISCO (now Tata Steel) and similar services to the then group bank Central Bank of India and the UTI.
– It later turned into a dedicated software development company offering customized solutions to clients all over the world.
– Today TCS has 199 offices across 44 countries and 124 delivery centers in 21 countries and a combined employee strength of over 3 lakh employees. Present CEO and MD of TCS is Natarajan Chandrasekaran.
– TCS has increased profit over the last two years at a faster pace than rivals Infosys and Wipro, which have both had internal management changes.
What is Market Capitalization?
– Market capitalization is the value of a company’s outstanding shares and is used to determine a company’s size. Easily said it is equal to the share price multiplied by the number of outstanding shares or tradable floating shares in stock markets.
– However, it is worth noting that market capitalization reflects only the equity value of the company and does not always reflects parameters such as sales, net profit, business expansion and diversification.
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