With its new hit in share price TCS isn’t just the most valued IT Services Company in India but become the most valued globally. The net worth of TCS is $144 billion which surpasses Accenture whose worth is $143 billion. This is the first time for TCS to claim the title but not the first time to race ahead of Accenture. In 2018, IBM tops the market with 300% more revenue than TCS and IBM was followed by Accenture. But in April 2018, TCS touched the $100 billion valuation and overtook the Accenture.
This year, IBM is in third place, Accenture in second position and TCS at first place. As per the Bombay Stock Exchange (BSE), TCS worth is $144.73 billion and that of Accenture is $143.4billion capitalized by NASDAQ. On October 8, TCS stock closed over 3% higher value. TCS share price has gone up more than 30% since January and since the pandemic outbreak TCS stock is 70% up. “This is very commendable as almost all of its performance has come on the back organic growth, low employee attrition and high EBIT margins”, said Nirmal Bang, an online stock and share market trading company.
In the September quarter of FY21, TCS revenue was up by 4.8% and the profit growth is nearly 7%. The company’s board of directors approved a share buyback worth INR 16,000 crore, a move which some people expect other IT industries to follow.
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