TCS becomes first Indian company to cross $100 bn in market-cap

TCS becomes first Indian firm to cross $100 bn in market cap pips Accenture

Shares of the company today opened at Rs 3,429, rising 4.39 per cent to touch an intra-day high of Rs 3,557 on BSE. TCS also announced 1:1 bonus shares i.e. one bonus shares of Rs 1 face value each for every share held in the company to its investors. "TCS has enormous potential and we are extremely proud of the achievement", chairman of Tata Sons N Chandrasekaran told a business news channel.

The company priced its IPO at Rs 850 a share during 2004, and within a single year touched a market capitalisation of $10 billion. the company took four years to achieve the current milestone fro $75 billion that it had achieved in 2014. Following the uptick in the counter, the market capitalisation of the company swelled to Rs 6,80,912.10 crore. TCS had announced its earnings after market hours on Thursday.

Market capitalisation of the IT giant has risen from Rs 47,232 crore to a mammoth Rs 6.78 lakh crore in 14 years of its listing - the highest among all Indian listed companies.

The company's revenues in terms of dollar currency increased 3.9% to $4.97 billion in the quarter.

Analysts are bullish on TCS after it reported a 3.8% quarter-on-quarter growth in fourth-quarter revenue at Rs. 32,075 crore.

Revenue for FY 2018 grew 4.4 per cent to Rs 1,23,104 crore from Rs 117.966 crore in FY 2017. "We expect TCS to continue to trade at a premium to its peers".

TCS is the 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. "However, even with growth acceleration in FY19, we expect earnings CAGR of around 10-11%", said Credit Suisse in note dated April 19. Its recent deal wins have also been strong, and it appears to be transitioning to digital services well.

"The Board of Directors recommend 1:1 bonus share issue to the shareholders", said the city-based IT major in a regulatory filing on the BSE.

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