What is TCS next step? N Chandrasekaran explains
After TCS share price creates history, Tata Sons Chairman N Chandrasekaran said company is poised to leverage the global digital opportunity. Chandrasekaran said in a statement that the "Digital era" is going to be a large opportunity for TCS.
TCS saw its market cap push above the USD 100 billion (Rs 6,80,912.10 crore) mark after its shares climbed as much as 4.6 per cent to a record high of Rs 3,557.9.
(Pic: Reuters)
The stock closed with a gain of Rs 8.8 at Rs 3,415.20 on BSE, implying a market cap of Rs 6.53 lakh crore (about USD 98.3 billion).
(Pic: Reuters)
Billionaire Mukesh Ambani-led Reliance Industries is the only other Indian company which had breached the USD 100 billion mark, way back in 2007. At today's rupee-dollar exchange rate and stock price, it had a m-cap of Rs 5.92 lakh crore.
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The spike in m-cap has come within days of strong performance reported by the company, which posted 4.3 per cent jump in annual revenue for FY18 to Rs 1.23 lakh crore.
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The Tata group flagship, which contributes around 85 per cent of the group's profit, reported its highest revenue growth in 14 quarters at 11.7 per cent in dollar terms.
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TCS, which competes with the likes of Infosys and Wipro, had hit the USD 50 billion m-cap mark in December 2010, and then scaled up to USD 75 billion milestone in June 2014.
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TCS is looking at driving digital revenues of the company to over USD 5 billion this year.
(Pic: Zeenews.com)