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TCS now among world’s hundred most valuable companies

Author: IANS/Monday, April 23, 2018/Categories: Corporate

TCS now among world’s hundred most valuable companies

Mumbai, April 23 - IT bellwether Tata Consultancy Services (TCS) on April 23 emerged as the first Indian listed company to cross the $100-billion mark in terms of market capitalisation (m-cap).

Around 11 a.m., the m-cap of the company stood at Rs 675,934.95 crore or $101.60 billion on the BSE.

Shares of the company rose over 4% to a new high of Rs 3,557 per share.

On April 20, the IT major's shares rose over 7% to Rs 3,419.80 per share, taking its m-cap to over Rs 6.50 lakh crore or around $98 billion -- close to the $100 billion mark.

The company's shares had surged a day after its quarterly results announcement, which reported a net profit for Q4 at Rs 6,925 crore -- up 4.6 per cent -- from Rs 6,622 crore in the same period in 2017 and up 5.8% sequentially from Rs 6,545 crore a quarter ago.

It also announced 1:1 bonus shares of Re 1 face value to its investors at the end of fiscal 2017-18.

 

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Kavita Giridhar Mallya

IANS

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