TCS, IT services, is a consulting and business solutions institute offering amazing services to international enterprises. This Thursday, the largest software exporter of India, Tata Consultancy Services(TCS) became the most valuable information technology company internationally overtaking its competitor Accenture for the very first time by dominating in market capitalization. Tata Consultancy Services has also recently increased the salary of its employees. This is on account of the good performance of the company.
Talking About The Acquisition Of Accenture By TCS :
On Thursday, TCS closed 3.19% higher at Rs 2,825 on BSE which has brought its market capitalization to $144.73 billion. Whereas the value of Accenture is currently at $143.4 billion on the Nasdaq. On the other hand, IBM’s market capitalization is at $118.2 billion currently. Shares of TCS were strengthened on Thursday by more than expected performance in the second quarter ended September. The firm announced a buyback worth Rs 16,000 crore. The company also declared an interim dividend of Rs 12 for every share.
Also, the company says in a report that revenue rise was 3% on a year on year(YoY) to Rs 40,135 crore. It also reported that global clients are spending more on cloud and digital projects. This is to keep pace with changes in businesses resulted from the COVID pandemic. A report by Motilal Oswal Research recently says that “The company impressed with the growth in revenue by 4.8% quarter on quarter(QoQ). Broad-based growth across the world signals healthy recovery across different segments.”
TCS reported a 6.87% dip in the quarter of September sum of Rs 7,504 crore. But, there is a faster recovery in the demand than projected and will be continuously going ahead as well. Several analysts said that the main aspect of the improved performance of TCS compared to the previous quarter was that the TCS had experienced a sharp jump back in growth in key verticals like Retail & CPG, BFSI, and Lifesciences.
According to a note by famous analysts Hardik Sangani and Sudheer Guntupalli of brokerage ICICI Securities that the world is expecting the company to expand its market share in global markets. This analysis is including Europe too. Till now, the stock of TCS was trading a little down 0.34% on the BSE. However, the Sensex jumped over 200 points in the session of the morning after the Reserve Bank of India(RBI) announcement of monetary policy.
TCS continually improves its human capital by acquiring the best-talented people available in each of the sectors and markets it operates in. That is why it’s the world’s most valuable company.