technology

TCS first Indian tech company to cross $200 billion market cap


Tata Consultancy Services, India’s largest software exporter crossed $200 billion in market capitalisation on Wednesday, as investors backed technology service providers who are growing their business helping the digital transformation of global businesses. Reliance Industries is the most valuable Indian company with a market cap of over $205 billion.

TCS, which completes 50 years, listed on the stock exchanges in 2004. It took 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 said.

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.

‘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.

TCS CEO Rajesh Gopinathan had told ET last week that the (stock) market validation comes due to the resilience shown by the Tata Group company which rode multiple technology waves over the decades rather than get disrupted by them.

“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,” Gopinathan said.

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